Best commercial vehicles

Find a car, truck, van or coach that best suits your business needs.

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There is no single commercial vehicle that fits all business needs. The choice you make ultimately depends on what’s best for your industry and financial situation.

We’ve gathered vehicles that are the most popular, fuel-efficient and safe, along with key features to consider and methods of financing.

Car Loans Canada

  • Min. Loan Amount: $7,500
  • Max. Loan Amount: $55,000
  • Interest Rate: 3.99% to 29.90%
  • Loan Term: 12-84 months
  • $0 down options available
  • All credit scores considered
  • Quick and simple financing
  • Safe and secure loans

Car Loans Canada

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.

  • Min. Loan Amount: $7,500
  • Max. Loan Amount: $55,000
  • Interest Rate: 3.99% to 29.90%
  • Loan Term: 12-84 months
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Best-selling makes

Several manufacturers stand out in the car industry for most popular business-use vehicles:

  1. Ashok Leyland
  2. Beiqi Foton
  3. China National Heavy Duty Truck Corp
  4. Daimler Trucks
  5. Dongfeng
  1. First Auto Works
  2. Hino
  3. Isuzu
  4. Iveco
  5. Kamaz

Best-selling models

Compare popular car models that many business owners prefer.

  • Best-selling sedans for business

  • Toyota Camry
  • Honda Civic
  • Toyota Corolla
  • Honda Accord
  • Nissan Altima
  • Best-selling vans for business

  • Ford Transit
  • Dodge Sprinter
  • Ford E-Series
  • Nissan NV
  • VW Transporter
  • Best-selling trucks for business

  • Ford F-Series
  • Chevrolet Silverado
  • Ram Pickup
  • GMC Sierra
  • Toyota Tacoma

Safest vehicles

Safety is important when considering a business vehicle. Look to these safest ones on the market.

  • Safest sedans for business

  • Toyota Camry
  • Honda Accord
  • Honda Civic
  • Kia Cadenza
  • Buick LaCrosse
  • Safest vans for business

  • Honda Odyssey
  • Chrysler Pacifica & Pacifica Hybrid
  • Kia Sedona
  • Toyota Sienna
  • Dodge Grand Caravan
  • Safest trucks for business

  • Honda Ridgeline
  • Toyota Tacoma
  • GMC Canyon
  • Ram 1500
  • Chevy Silverado

Most fuel-efficient

Get ready to save money on travel costs. Hybrids and diesels top the list for fuel efficiency.

  • Most fuel-efficient sedans for business

  • Mitsubishi Mirage
  • Chevrolet Cruze Diesel
  • Jaguar XE Diesel
  • BMW 328d Diesel
  • Honda Fit
  • Most fuel-efficient hybrids for business

  • Toyota Camry Hybrid
  • Toyota Avalon Hybrid
  • Ford Fusion Hybrid/Energi
  • Toyota Prius
  • Chevrolet Malibu Hybrid
  • Most fuel-efficient vans for business

  • Chrysler Pacifica Hybrid Van
  • Chevrolet City Express Van
  • Nissan NV200 Van
  • Ram ProMaster City Van
  • Ford Transit Connect Cargo Van
  • Most fuel-efficient trucks for business

  • Ram 1500
  • Ford F150
  • Honda Ridgeline
  • GMC Canyon
  • Chevy Colorado

Best features for commercial vehicles

You might benefit from features that can keep costs down and prioritize safety, depending on your industry.

  • Low maintenance. Efficient for small businesses and startups.
  • Strong engine. Top horsepower for pulling heavy loads.
  • Four-wheel drive. Off-road power for construction, research or nonprofit work.
  • V-6 or V-8 cylinders. Fuel efficiency for long-distance travelers.
  • Large seating capacity. Five or more seats for construction or real estate.
  • Cheap car insurance. Cost-effective for saving on business overhead.
  • High safety ratings. Quality airbags, braking and impact resistance for safety over lots of miles, in big cities or in dangerous work zones.

Best way to finance a new car for your business

Finance your business vehicle by buying or leasing. The option your choose depends on both your budget and your needs.

Leasing a car for business

When you lease a business vehicle, you don’t own it, but you still have the right to drive it. You make regular payments towards the lease, similar to making payments on a car loan, but you don’t have to shoulder the full cost of damages or maintenance because the dealership still owns the vehicle (though you’re still responsible for these costs to some degree).

Additionally, the difference between car loan payments and lease payments is such that leases often allow you to drive a more expensive vehicle than you would normally be able to afford. When your lease is up, you usually have the option to return the vehicle, lease a new vehicle or possibly even buy the vehicle outright.

Pros

  • Warranty and maintenance. Many leases include a manufacturer’s warranty and even car maintenance. Maintenance costs should stay low because leased vehicles are typically new.
  • Up-to-date features. New leased cars often include updated technology and safety features.
  • Low monthly payments. When you lease, you’re simply covering the cost of the car’s depreciation plus fees. It means that payments can be significantly lower than a car loan.
  • Low upfront costs. Some leases require a small security deposit, while others don’t require any. You may be responsible for upfront bank fees, acquisition fees and other costs.
  • Tax-deductible payments. Unlike a car loan, the business portion of your lease payments are likely tax-deductible.

Cons

  • Mileage limits. Most leased vehicles come with low mileage caps, such as 12,000 miles. If you exceed that mileage, you may pay a hefty per-mile fee.
  • No trade-in value. You won’t get money for trading in a previous lease for a new vehicle.
  • Recurring payments. You’ll continue to pay monthly for as long as you lease the vehicle. You aren’t “paying down” a loan to the point where you don’t have to make any more payments.
  • Ending costs. At the end of the lease, you could be charged extra for excess mileage, wear and tear beyond what is covered under the lease agreement and other high-ticket costs.

Buying a car for business

If you buy a business vehicle, you can use the vehicle however you want. However, you have to shoulder the full burden of costs, including damages and maintenance fees.

Unless you pay full price for your vehicle at the time of purchase, you’ll have to take out a car loan. You can get financing directly through the dealership or through an outside lender such as a bank, credit union or private lender.

You want to make sure that you pay off the loan in a reasonable amount of time, or else you might be stuck with an “upside down” loan, where you owe more than your vehicle is worth. If this happens, you’ll still be left with repayments to make even if you sell your vehicle or trade it in for a new car.

Pros

  • Owned property. When you buy a car, you can customize it, sell it or use it however you want.
  • Unlimited miles. You don’t have to worry about going over annual mileage limits.
  • Depreciation deduction. As an owner, you can likely deduct your losses from the car’s depreciation on your taxes.
  • Trade-in value. If you trade in a car whose trade-in value is $10,000, you can apply that amount to your next car purchase.
  • Loan payoff. You have no obligation to a car dealer after you pay off your loan.

Cons

  • Outdated features. A car’s safety and tech may not keep up with the most modern features. You’ll have to pay down or pay off your vehicle to be able to switch to a new car without rolling over your old car loan into your new car loan. Until then, you have to stick with the make and model that you have.
  • Maintenance and repair. You may pay increasing out-of-pocket repair expenses, especially as the car ages.
  • High upfront costs. You’ll need a down payment for a car loan. Without a loan, you’ll have to pay the full cost of the car upfront.
  • High monthly payments. You’ll pay the car’s value and interest for the life of your loan, even as the car depreciates. To compensate, you may need to look for an older car or less expensive model than if you leased a car instead. But you may be able lower your monthly payments by refinancing your car loan after a few years.

Compare commercial auto loans

Name Product Min. Loan Amount Interest Rate Fees Loan Term Min. Credit Score
Car Loans Canada
$7,500
3.99% to 29.90%
Varies by lender, loan type and province
12-84 months
300
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%
Varies by lender, loan type and province
12 months - 8 years
300
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.
LoanConnect Car Loans
$500
1.90% to 46.96%
Varies by lender, loan type and province
6-60 months
550
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.
Carloans411 Car Loans
$500
1.90% to 19.99%
Varies
Up to 84 months
300
Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $35,000. Check eligibility for this loan through LoanConnect.
Auto Arriba Car Loans
$3,500
8.99% to 29.50%
Contract fee of $499.00
6-84 months
N/A
Auto Arriba offers car loans starting at $3,500 up to $100,000, with as little as a 30 minute loan turnaround time. On a limited number of approved loans, Auto Arriba is currently offering a rebate of the amount of your first scheduled payment 30 days after it has been processed up to a maximum of $500.
Fairstone Secured Personal Loan
$5,000
19.99% to 23.99%
Varies by province
3-10 years
560
Fairstone offers secured personal loans up to $35,000.
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Bottom line

The top vehicle for your business will depend on whether you’re looking for extensive safety features, economic value or fuel efficiency, among other benefits. Compare the best-selling models in each group, and consider how you’ll finance your fleet, to find the best for your budget and needs.

Check out our guide on business vehicle financing options to learn more about loans, leasing, car loan brokers, government financing and more.

Frequently asked questions

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