By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 19, 2026 · Last updated August 28, 2026 To get out of a car loan in Canada you have six real exits: pay it down, refinance the payment, sell the vehicle and settle the balance, trade it in, transfer

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 18, 2026 · Last updated August 28, 2026 Car loan interest in Canada works on a declining balance: your lender quotes an annual percentage rate (APR), interest accrues on whatever principal you still owe, and each fixed monthly payment

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 17, 2026 · Last updated August 28, 2026 To gift a car in Ontario, qualifying family members sign a sworn statement for a family gift of a used motor vehicle, the recipient registers the transfer at ServiceOntario, and the

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 16, 2026 · Last updated August 28, 2026 The used car tax in Ontario is 13%, but what it applies to depends on where you buy: at a dealership you pay 13% HST on the price you negotiated, while

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 12, 2026 · Last updated August 28, 2026 An electric car lease is a fixed-term rental of an EV: you pay for the depreciation during your term plus interest and fees, then hand the vehicle back or buy it

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 9, 2026 · Last updated August 28, 2026 A credit union auto loan is car financing from a member-owned financial cooperative instead of a bank or dealership. For borrowers with decent credit, credit unions often post the lowest advertised

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published August 3, 2026 · Last updated August 28, 2026 Rent to own cars in Canada are vehicles you pay for in weekly or biweekly installments directly to a dealer, with ownership transferring only after the final payment. No bank approval

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published July 30, 2026 · Last updated August 28, 2026 Yes, selling a financed car in Canada is legal and common: the loan must be paid out at or before the sale, either from the buyer’s payment, a dealer trade-in, or

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published July 30, 2026 · Last updated August 28, 2026 A bill of sale Ontario private vehicle sales rely on is a one-page document recording the buyer, seller, vehicle, price, and date, signed by both parties. Ontario requires one to transfer

By Nyomi Williams, Auto Finance Writer at FindAVehicle · Published July 30, 2026 · Last updated August 28, 2026 Should you lease or finance a car in Canada? Finance if you keep vehicles more than four years, drive over 20,000 km annually, or want to eventually own outright; lease if