What You'll Pay Beyond a Car's Sticker Price | Finder Canada

Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

What you’ll pay beyond a car’s sticker price

Don't forget to factor in dealership fees, taxes, insurance premiums and more.

In order to drive your new or new-to-you car off the lot, you’ll need to pay the dealer, the government, the gas station and maybe even a mechanic. Aside from looking at the price of the car itself, don’t forget to factor in these other expenses when figuring out how much you’ll have to shell out.

CarsFast Car Loans

  • Min. Loan Amount: $500
  • Max. Loan Amount: $75,000
  • Interest Rate: 4.90% to 29.90%
  • Loan Term: 12-96 months
  • Choose from thousands of vehicles
  • Multiple financing options
  • Pre-approval in 60 seconds
  • Vehicle delivery to your door

CarsFast Car Loans

Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs. Apply online to purchase a new or used vehicle and get the vehicle delivered to your door.

  • Min. Loan Amount: $500
  • Max. Loan Amount: $75,000
  • Interest Rate: 4.90% to 29.90%
  • Loan Term: 12-96 months
Promoted

Extra costs to factor in when buying a car

  • Insurance premiums

    In Canada, every province and territory requires a driver to have at least mandatory coverage. In provinces like Ontario, for example, every insurance policy also needs to include third-party liability coverage, statutory accident benefits coverage, and direct compensation – property damage coverage.

    You can find out what your province’s minimum requirements and how much it will cost from your insurance provider. Compare car insurance providers to find the lowest rates available for you.

  • Registration fees

    Your car will need to be registered with your province. You may need to register the car as soon as you buy it if the dealer hasn’t done so already or, if you’re buying used, it may already be registered with the previous owner, in which case you’ll just need to transfer the title. Depending on your province, vehicle registrations fees can range from $15 to $120 a year.

    Depending on the age of your car and what province you are in, you may also need to pay to have an emissions test when you register the vehicle.

  • Taxes

    Sales tax on car purchases vary by province. Depending on where you live, you could pay anywhere from 5% to 15% in taxes. Look up the laws of your province to find out exactly what you’ll pay. It may be tempting to buy a vehicle in another province to save on taxes but there are other factors you should consider when buying a car out-of-province.

    If you’re buying a used car, you’ll pay taxes when you register the car.

  • Administration fees

    If you’re buying a new or used car from a dealership, you may be charged administration fees which cover the time the dealer spent preparing the final documentation and licensing.

  • Freight fee

    If you’re buying a new car, you’ll likely be charged a freight fee. This is what the dealer pays, plus profits in some cases, for shipping the car from the manufacturer to the dealership.

  • Pre-purchase inspection

    If you’re buying a used car, it’s a good idea to have it checked out by an independent mechanic to make sure the car doesn’t have any defects you should be aware of. A pre-purchase inspection usually costs around $100 to $200, but charges vary based on the mechanic.

  • Gas

    Most cars aren’t going to come fully filled, so you may need to fill your tank as soon as you leave the dealership.

Compare your car loan options

Name Product Min. Loan Amount Interest Rate Loan Term Min. Credit Score Requirements
Car Loans Canada
$7,500
3.99% to 29.95%
12-84 months
300
Min. income of $2,000 /month, 3+ months employed
Search thousands of vehicles online, including $0 down options, from dealers across the country and get matched with affordable financing options. Auto loans are also available to those with bad credit, consumer proposals and bankruptcies to help rebuild credit.
CarsFast Car Loans
$500
4.90% to 29.90%
12-96 months
300
Min. income of $1,800 /month, 3+ months employed
Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs. Apply online to purchase a new or used vehicle and get the vehicle delivered to your door.
Loans Canada Car Loans
$500
0% to 29.99%
3-96 months
300
Min. income of $1,800 /month, 3+ months employed
Get access to financing from multiple lenders across Canada through a single application with Loans Canada. Bad credit, CERB and EI borrowers are considered.
Canadian Auto News
$7,500
4.49% to 29.90%
12-84 months
300
Min. income of $2,000 /month, 3+ months employed
Answer a few simple questions to get matched with affordable financing options. Auto loans are also available to those with bad credit, consumer proposals and bankruptcies to help rebuild credit.
Canada Auto Finance
$500
4.90%-29.95%
3-96 months
300
Min. income of $1,500 /month, 3+ months employed
Canada Auto Finance is a broker that connects borrowers with partnered local lenders. Financing for a new or used car is available for borrowers with bad credit, no credit, CERB, EI or bankruptcy.
Carloans411 Car Loans
$500
1.90% to 19.99%
Up to 72 months
300
Min. income of $1,600 /month, 3+ months employed
Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $50,000. Check eligibility for this loan through LoanConnect.
LoanConnect Car Loans
$500
9.90% to 46.96%
3-120 months
550
No min. income requirement
Get access to 25+ lenders through LoanConnect's brokerage. Receive pre-approval in as fast as 60 seconds and get your funds in as little as 24 hours.
Fairstone Secured Personal Loan
$5,000
19.99% to 23.99%
36-120 months
560
Established credit history and own your home
Fairstone offers secured personal loans up to $35,000.
loading

Compare up to 4 providers

Bottom line

The sticker price of your car doesn’t include everything you’ll need to pay, and the extra fees and taxes can start to add up. Make sure you understand the total amount you’ll be on the hook for before getting a car loan so you don’t end up short on cash.

Frequently asked questions

More guides on Finder

  • Canadian Auto News car loan review

    Canadian Auto News matches you with local lenders and dealerships to help you find the perfect car and car financing for your needs.

  • Compare Car Loans

    Compare the best car loans in Canada to get on the road faster and keep more money in your pocket.

  • Compare Car Loans

    Need a car loan to finance your new set of wheels? Compare the best car loans here to get on the road faster with more money in your pocket.

  • Splash Auto Finance car loan review

    Splash Auto Finance specializes in car loans for borrowers with less-than-ideal credit histories.

  • How to lower car insurance costs

    You don’t need to pay more for car insurance than necessary. Find out the 9 easiest ways to pay less and save on your monthly car insurance bill.

  • Canada Drives car loan review

    Canada Drives simplifies the process of buying a car, showing you how much you can borrow along with a list of vehicles you’ve already qualified for based on your approved financing.

  • Canada Auto Finance Review

    Do you need a car loan but you don’t have the best credit? Canada Auto Finance connects you with local dealers to help you secure auto financing at competitive rates to help you buy a car.

  • Starting Your Own Business: A Step-By-Step Guide

    From making a business plan to getting funding and insurance coverage – we’ll walk you through what you need to know about starting your own business.

  • CTL Car Loan review

    Do you need a bad credit car loan? Enjoy decreasing interest rates every year that you make on-time payments with this reputable lender.

  • Coast Capital Car Loan review

    Get competitive interest rates and top-notch customer service with this reputable car loan provider.

Ask an Expert

You must be logged in to post a comment.

Go to site