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

Compare bad credit car loans in St. John’s

Learn where to shop for bad credit car loans in St. John's and what you might need to qualify.

There are plenty of car loans you can access with bad credit if you know where to look. Learn more about where to shop, how to get approved and how much you should expect to pay when you apply for bad credit car loans in St. John’s, NL.

Compare bad credit car loans in St. John’s, Newfoundland

Compare the car loan providers below to access bad credit car loans in St. John’s, NL. Bank loans aren’t listed below, but could also be an option.

1 - 3 of 3
Name Product APR Loan Amount Loan Term Requirements Long Table Description
CarsFast Car Loans
4.90% - 29.90%
$500 - $75,000
12 - 96 months
Requirements: Min. income of $2,000 /month, 3+ months employed
Loans Canada Car Loans
0% - 31.99%
$500 - $35,000
24 - 120 months
Requirements: Min. income of $1,800 /month, 3+ months employed
0% financing applies to some new models with loan terms up to 60 months. Offer ends May 31, 2023.
Canada Auto Finance
4.90% - 29.95%
$500 - $45,000
3 - 96 months
Requirements: Min. income of $1,500 /month, 3+ months employed

Bad credit car dealerships in St. John’s, NL

If you prefer to go straight to a dealership, here is a list of bad credit car dealerships in Newfoundland. All of these dealerships advertise second-chance financing directly on their websites.

DealerRating on GooglePositive commentsNegative comments
Capital Auto Centre4.1 stars out of 128 reviewsResponsive, easy experienceUnreliable car
Penney Kia4.5 stars out of 173 reviewsWelcoming, excellent serviceBad service after purchasing the car
Keith Gordon Auto Sales4.3 stars out of 55 reviewsEasy experience, friendly, repeat customersDishonest (but reviews are 2+ years old)
Capital Hyundai4.4 stars out of 377 reviewsGreat service, helpfulUnresponsive/bad communication when servicing a car
Steele Honda4.4 stars out of 458 reviewsResponsive, informativeBad service for car repairs or routine maintenance
Terra Nova GMC Buick4.3 stars out of 128 reviewsGood service, pleasantBad service after purchasing the car

Ratings are as of December 21, 2022

How to get approved for the best bad credit loans in St. John’s

Get approved for bad credit car loans in St. John’s, NL by following these steps:

  1. Check your credit score. Start by checking your credit score to see where you fall on the bad credit range. The closer you are to 600, the more likely you are to qualify.
  2. Compare lenders. Decide if you want to borrow from a dealership, private lender or bank. Compare at least three to four lenders manually or through a broker to find the best rates.
  3. Get pre-approved. Apply for car loan pre-approval with several lenders to determine who will approve you, for what amount and at what rates.
  4. Choose a lender. Once you have pre-approval from several lenders, you can decide which one is the best fit.
  5. Fill out your application. When you’re ready to apply, most places will ask you to provide your personal and banking info through an online or in-person application.
  6. Submit additional documents. You may also need to supply documents such as government-issued ID, tax records, pay stubs or bank statements to prove your income and identity.
  7. Wait for a loan decision. Once you’ve submitted your bad credit car loan application, you’ll need to wait for a final loan decision before you start shopping or buy your car.

Eligibility requirements of bad credit auto loans in St. John’s

You may need to meet the following criteria to qualify for bad credit car loans in St. John’s, NL.


  • Be a Canadian citizen or resident who is 19 years of age
  • Meet minimum income and employment requirements
  • Meet minimum credit score requirements (if there are any)
  • Have an active bank account and email address

Documents required

  • Government-issued ID such as a passport or driver’s licence
  • Recent pay stubs
  • Bank statements from the last 90 days
  • Letter of employment to verify your job stability in some cases

How much are cars in St. John’s, NL?

The average price you’ll pay for a car in St. John’s will depend on whether you buy new or used. According to 2022 AutoTrader data, the following are average car prices in Atlantic Canada:

Two cars on the road with new car price showing $49,406 and used car price showing $34,455

New cars are up from $41,452 in 2021, while used cars are up from $25,369 in 2021. The prices of cars have increased in the past year due to higher demand and inventory scarcity. You’ll often have a harder time getting approved for a large loan (over $20,000) with bad credit. For this reason, you may need a large down payment to offset the total cost of your loan.

How much will a bad credit car loan cost me in St. John’s?

Consult the table below to see how much you might pay to get a $15,000 loan at various APRs (between 9.90% and 14.99%) and over a five- to seven-year loan term.

$15,000 car loan at 9.90% APR over 5–7 years

Loan amountInterest rateTermMonthly paymentTotal interestTotal amount paid
$15,0009.90%5 years$317.97$4,078.09$19,078.09
$15,0009.90%6 years$277.13$4,953.49$19,953.49
$15,0009.90%7 years$248.24$5,852.45$20,852.45

$15,000 car loan at 12.99% APR over 5–7 years

Loan amountInterest rateTermMonthly paymentTotal interestTotal amount paid
$15,00012.99%5 years$341.22$5,473.16$20,473.16
$15,00012.99%6 years$301.03$6,674.33$21,674.33
$15,00012.99%7 years$272.80$7,915.02$22,915.02

$15,000 car loan at 14.99% APR over 5–7 years

Loan amountInterest rateTermMonthly paymentTotal interestTotal amount paid
$15,00014.99%5 years$356.77$6,406.21$21,406.21
$15,00014.99%6 years$317.09$7,830.75$22,830.75
$15,00014.99%7 years$289.37$9,306.84$24,306.84

As shown above, you’ll pay lower monthly payments as your loan term gets longer but you’ll end up paying more interest over time. If you shorten your term, your monthly payments will be higher but you’ll pay less in interest.

Car loan calculator

Calculate how much you could expect to pay each month
Your loan
Loan amount
Loan terms (in years)
Interest rate

Fill out the form and click on “Calculate” to see your estimated monthly payment.


Compare car loans now
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

Frequently asked questions

More guides on Finder

Go to site