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How to finance a Nissan in Canada

Learn about your options and decide on the best type of financing for you.

With solid mid-range prices and a variety of models that fit daily life, Nissan is a popular Japanese car brand for a reason. If you’re looking to get behind the wheel of a new or new-to-you Nissan, you’ve got plenty of financing options — from getting a car loan through a bank or online lender to financing directly through the dealership.

How can I finance a Nissan in Canada?

If you don’t have the cash to drop on a car straight off the dealership lot, you may want to consider a loan.

Car loan

With a traditional car loan, your Nissan will act as collateral. Banks, credit unions and online lenders all offer car loans. Banks and credit unions tend to offer the most competitive rates, but you need to have a good to excellent credit score (above 660) in order to qualify. Online lenders, on other hand, can work with borrowers who have good or bad credit.

Comparing different lenders will help you secure a lower interest rate and better terms.

Compare car loans to finance a Nissan in Canada

1 - 5 of 5
Name Product Ratings APR Range Loan Amount Loan Term Broker Compliance Requirements Long Table Description
CarsFast Car Loans
Customer Survey:
★★★★★
3.90% - 29.90%
$500 - $75,000
12 - 96 months
CarsFast will connect you with a dealership near you to help you find the right financing.
Requirements: Min. income of $2,000 /month, 3+ months employed
Loans Canada Car Loans
Customer Survey:
★★★★★
0% - 46.96%
$500 - $50,000
3 - 60 months
Loans Canada is a loan search platform. Get matched with a suitable dealer based on your credit history and borrowing requirements.
Requirements: Min. income of $1,800 /month, 3+ months employed
Dealerhop Car Loans
Not yet rated
6.99% - 29.99%
$7,000 - No max.
12 - 96 months
Dealerhop matches you with a dealer partner to get you financing.
Requirements: Min. income of $2,000 /month, 3+ months employed
Clutch Car Loans
Customer Survey:
★★★★★
From 8.49%
$7,500 - No max.
12 - 96 months
Apply for financing with online dealer Clutch, who partners with some of Canada’s largest financial institutions to get you competitive interest rates.
Requirements: 3+ months employed, Max.1 bankruptcy, Ontario & Nova Scotia only
CarDoor Car Loan
Customer Survey:
★★★★★
From 7.99%
$5,000 - No max.
12 - 96 months
Online dealer CarDoor works with multiple lenders to help you get a competitive interest rate. Apply for financing directly with CarDoor and get help every step of the way.
Requirements: 3+ months employed, Max.1 bankruptcy, Ontario only
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Personal loan

With a personal loan, you have a choice between a secured or unsecured loan. A secured loan involves putting up collateral such as your house or investments, while an unsecured loan involves no collateral. Unsecured loans tend to have higher interest rates because the lender is taking on more risk without the collateral. Learn more about secured personal loans or unsecured personal loans.

Financing through Nissan Canada Finance (NCF)

If speed is your main concern, then you may want to consider getting your loan directly through Nissan Canada Finance (NCF). It’s usually faster than going through a bank or online lender, but it may not get you the lowest rates. Here are your two options:

Your local dealership may also have its own special deals, like cash back or low down payment options. The specific rates and terms you qualify for will depend on your credit history and personal financial situation.

Representative example: Lindi buys a Nissan

Lindi, a resident of Alberta, is looking for a new car. She visits a dealership and finds a 2020 Nissan Sentra with a Super Black and Aspen White Tricoat trim she likes for $23,999. She is able to get a $3,800 trade-in on her old car and pays an additional 20% deposit of $4,800.00 on the Sentra. Lindi applies for dealership financing to cover the outstanding amount ($15,399.00) plus 5% GST. Thanks to her solid credit history, she is approved. Along with the cost of her loan, Lindi also pays around $85.00 to register her car with the provincial government.

Cost of new vehicle$23,999.00
Loan typeAuto loan (term loan)
Loan amount$16,408.95
Interest rate (APR)5.90%
Loan term5 years
Additional fees4.00% origination fee ($656.36)
$0.00 application fee (waived by dealership)
Payment $316.47 monthly or $145.90 biweekly
Total loan cost$18,988.20 with monthly payments or $18,967.00 with biweekly payments

*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.

Does Nissan offer special discounts or programs?

Yes, Nissan offers a Canada Finance Loyalty Program to customers who currently own or are leasing/financing a 2011 or newer Nissan. Customers who have ended a lease/financing agreement with Nissan and who, within 90 days, enter into a new lease/purchase agreement with Nissan are also eligible for the loyalty discount.

Loyalty Dollars are awarded based on the model you get and typically range between $500 and $2,000. You can use these dollars to reduce your regular payments, lower your APR or reduce the after-tax price of your vehicle.

In order to qualify for the loyalty discount, your Nissan vehicle must be from 2011 or later. Also, it cannot be used (it must not have been previously registered), and you must finance through NCF. You will have to present proof of your ownership or lease agreement. The discount cannot be transferred or assigned to anyone but the intended recipient of the discount, including a co-owner or co-lessee living in the same household as you.

How much do Nissan cars cost?

The cost of a Nissan depends on where you live and any special promotions going on. Here is a price snapshot of Nissan models in Canada based on the Nissan website.

ModelPriceBuildCondition
2021 Kicks$19,898 starting MSRPSUV crossoverNew
2021 Qashqai$21,998 starting MSRPSUV crossoverNew
2021 Altima$29,498 starting MSRPSedanNew
2021 Versa$16,498 starting MSRPSedanNew
2019 Altima$29,999SedanCPO
2017 Altima$17,598SedanCPO

Does a new Nissan come with a warranty?

Every Nissan is backed by a basic coverage warranty that’s good for 3 years or 60,000 km – whichever comes first. The limited warranty also covers a number of other aspects of the vehicle, some of which are listed below:

  • Powertrain. 5 years or 100,000 km
  • Surface corrosion. 3 years or 60,000 km
  • Corrosion perforation. 5 years (unlimited km)
  • Emissions control system. 3 years or 60,000 km (note: vehicles with the Cummins Diesel engine are covered for 5 years or 80,000 km)
  • Original equipment battery. 3 years or 60,000 km
  • Tires. Subject to the tire manufacturer’s warranty

You won’t have to pay for parts or labour if any warrantable part of your Nissan is defective due to bad parts or workmanship. However, you may be charged a prorated fee for defects in tires or batteries.

See the image below for a quick glance at Nissan’s 2021 general warranty plan (visit www.nissan.ca for details and conditions):

Picture not described

Source: www.nissan.ca

Bottom line

Before investing in a Nissan, consider your budget and the type of loan that best suits your financial needs. Consider whether you should go with a bank, credit union, online lender or dealer. Each type of lender has its benefits and drawbacks.

Check out our car loans guide to learn more about how borrowing works and compare your loan options.

Frequently asked questions

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