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Features and Benefits of an RBC Royal Bank Car Loan

When you choose a car loan from RBC Royal Bank, you have the flexibility to finance your vehicle directly at the dealership—or through an RBC Royal Bank branch. Here’s a quick comparison to help you choose:

  Financing at the Dealership Applying at a Branch
Typically ideal if you:
  • Know the type of car you want
  • Know what you can afford
  • Are still car shopping
      
  • Aren’t sure what you can afford
On-the-Spot Financing

Yes

(At dealers that offer our financing)

No

Flexible Amortization Terms

(How long you'd like to take to pay off your car loan.)

Yes

(1-8 years)

Yes

(1-7 years)

Fixed and Variable Rates

Compare to see what’s right for you.

Yes

Yes

(Switch from variable to fixed—or vice versa—at any time.)

Easy Payment Options (opens new window) Yes Yes
Early Payment Penalties (opens new window) No No
Skip-a-Payment® Option(1) (opens new window) Yes Yes
Optional Loan Insurance (opens new window)

Yes

(Ask your dealer about insurance options.)

Yes

(LoanProtector® Life and Disability Insurance)

Financing for Boats or Recreational Vehicles

Yes

(Boats and RVs—at dealers that offer our financing)

Yes

(Boats, RVs, snowmobiles and motorcycles)

 

Calculate Your Car Loan Payments

Quickly estimate how much your car loan payments would be.

How much would you like to borrow?

 
 

Take ActionApply for a Car Loan

  • Find a Dealer for access to on-the-spot vehicle financing
  • Apply Now
  • Call 1-800-769-2511 to talk to a credit specialist
 

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On-the Spot Financing

Apply at any dealership that offers RBC Royal Bank vehicle financing. It makes buying a car quick, simple and convenient! You can also apply by phone or at an RBC Royal Bank branch.

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Easy Payment Options

Make your loan payment monthly, semi–monthly, weekly or even bi-weekly. You can have it deducted automatically from your chequing account with RBC Royal Bank or another bank.

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Early Payment Penalties

We never charge a penalty for early payment. You can pay more than your fixed payment at any time, or even pay off your loan in full, without penalty.

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Skip-a-Payment Option

Skip up to the equivalent of one monthly payment each year(1), without penalty.

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Optional Loan Insurance

Protection for your family’s financial future – so you can worry less about your family’s ability to keep up with loan payments if something unexpected should happen. Learn more.

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