{"id":58113,"date":"2023-07-11T00:00:00","date_gmt":"2023-07-11T00:00:00","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/"},"modified":"2024-02-26T15:10:35","modified_gmt":"2024-02-26T20:10:35","slug":"the-impact-of-credit-scores-on-car-loan-rates","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/","title":{"rendered":"The Impact of Credit Scores on Car Loan Rates"},"content":{"rendered":"<div class=\"wp-block-rbc-single-article-header\">\n\t<section class=\"section-grey cover pad-t-hlf\">\n\t\t<div class=\"section-inner w-half w-mob-full centered-margin cover section-grey pad-tb-0\">\n\t\t\t\t\t\t\t<div class=\"inline-block pill-container pill-taxonomies\">\n\t\t\t\t\t<div class=\"mar-b-hlf mob-mar-b snipe pill is-style-blue-pill\">\n\t\t\t\t\t\t<a class=\"primary-taxonomy\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\">\n\t\t\t\t\t\t\t<span>Credit and Debt<\/span>\n\t\t\t\t\t\t<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<h1 class=\"mar-b-hlf mar-t-0 mob-pad-lr-hlf h2 has-black-color\">The Impact of Credit Scores on Car Loan Rates<\/h1><p class=\"mar-b-0 mob-pad-lr-hlf author-text\">By Jacob Henriksen-Willis<\/p>\t\t\t\t\t<div class=\"featured-image-wrapper pos-rel\">\n\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"930\" height=\"620\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-11T135136.717.jpg?quality=80\" class=\" cover-image  wp-post-image\" alt=\"Series of stacked coins and toy car driving up the stacked coins on table\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-11T135136.717.jpg 930w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-11T135136.717.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/Untitled-design-2023-07-11T135136.717.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 930px) 100vw, 930px\" \/>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t<\/section>\n\t<div class=\"article mar-t-dbl\">\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner socials-section\">\n\t\t\t\t<div class=\"top-socials-bar mob-mar-b-hlf\">    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=The Impact of Credit Scores on Car Loan Rates &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  <\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section>\n\t\t\t<div class=\"section-inner w-half w-mob-full centered-margin pad-tb-0 mob-mar-t-hlf mob-mar-b\">\n\t\t\t\t<p class=\"cover-pub-line text-xs mar-b-hlf\">Published July 11, 2023 \u2022 3 Min Read<\/p>\t\t\t<\/div>\n\t\t<\/section>\n\t<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner w-half w-mob-full\" style=\"border-radius:0x\">\n<p>When you&#8217;re in the market for an auto loan, your credit score will impact the types of loans and terms you&#8217;ll be presented. Knowing your score beforehand and how it may affect your application is important. With your score in mind, here&#8217;s how it may impact your car loan rates.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">How strong is my credit score?<\/h2>\n\n\n\n<p>Your credit score will be expressed as a three-digit number between 300 and 900. While the exact method credit bureaus calculate scores is unique to them, typically, the scoring ranges like this:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list default is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>300-649: Low to fair<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>650-725: Good<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>725-760: Very Good<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item\">\n<p>760-900: Excellent<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Most dealerships have a minimum credit score requirement to secure a loan. Generally, that&#8217;s around 550-600, but this varies depending on the dealership. It&#8217;s important to note that meeting the credit score requirement does not guarantee your loan gets approved. Other factors like employment, bankruptcy, assets, and liabilities may also affect the loan approval.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What goes into a &#8216;good deal?&#8217;<\/h3>\n\n\n\n<p>Most auto loan negotiations center around interest rates, varying significantly based on your credit score. Interest is the money you pay your lender for the privilege of borrowing money from them. This fee is presented as a percentage of your total loan. Per <a href=\"https:\/\/www150.statcan.gc.ca\/t1\/tbl1\/en\/tv.action?pid=1010000601\" target=\"_blank\" rel=\"noopener\">Statistics Canada<\/a>, the average interest rate for a car loan in Canada is around 7.69 per cent (as of April 2023). That&#8217;s a good baseline to use to evaluate your loan agreement.<\/p>\n\n\n\n<p>With a higher credit score, lenders may be more willing to offer a lower interest rate on your loan. Borrowers with lower credit scores may present more risk, and lenders will likely charge more interest as a result. The interest rate can reach 30 per cent or beyond in some cases. Having a co-signer or making a down payment may also improve your chances of getting approved for a loan with low interest.<\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p>Easily calculate your auto loan payments with RBC\u2019s&nbsp;<a href=\"https:\/\/apps.royalbank.com\/apps\/car-loans\/payment-calculator\/\" target=\"_blank\" rel=\"noreferrer noopener\">Car Loan Payment Calculator<\/a>&nbsp;to see how your interest rate, down payment and financing term, could affect your payments.<\/p>\n<\/div>\n<\/div>\n\n\n\n<h4 class=\"wp-block-heading\">How can I improve my credit score?<\/h4>\n\n\n\n<p>If you feel your credit score might keep you from getting the deal you want, working on your score might help. While there are several ways to help increase your credit score, basics like paying bills on time and not using all the credit you have can be essential to help improve your score.<\/p>\n\n\n\n<p class=\"has-light-grey-background-color has-background\">Read next: <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/5-things-to-know-before-applying-for-auto-financing\/\" target=\"_blank\" data-dig-id=\"LP-58113-f484e7b5\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"5 Things to Know Before Applying for Auto Financing\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">5 Things to Know Before Applying for Auto Financing<\/a><\/p>\n\n\n\n<div class=\"wp-block-columns has-border-color has-grey-border-color has-light-grey-background-color has-background is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\" style=\"border-width:1px\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<p class=\"has-text-align-center\">RBC Online Banking clients can check their credit scores for free by&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/ways-to-bank\/tutorials\/financial-advice\/check-credit-score.html\">following these instructions<\/a>.<\/p>\n<\/div>\n<\/div>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel border mar-b\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner pad-b-0 mar-b-qtr\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<section class=\"wp-block-rbc-section-block  pos-rel pad-b-0 pad-t-0\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block inner-section-white section-inner  pad-b-0 pad-t-0\" style=\"border-radius:0x\">\n<div class=\"wp-block-columns mar-b-0 is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column mar-r mob-mar-r-0 is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-medium is-resized mar-b-0\"><img loading=\"lazy\" decoding=\"async\" height=\"300\" width=\"300\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg?w=300\" alt=\"Woman leaning outside of a car.\" class=\"wp-image-70640\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg 1080w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg?resize=150,150 150w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg?resize=300,300 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg?resize=768,768 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/09\/iStock-1133563360_adobespark-1.jpeg?resize=1024,1024 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-97b574aa-d43d-47d5-a73e-9a0c9702e55a\" aria-hidden=\"true\"><\/div>\n\t<\/div>\n\n\n\n<div class=\"wp-block-column mar-r mob-mar-r-0 is-layout-flow wp-block-column-is-layout-flow\">\n<h4 class=\"wp-block-heading mar-t-0 mar-b-0 mob-pad-b pad-b-hlf\" id=\"h-my-auto-affordability-tool\"><a href=\"https:\/\/apps.royalbank.com\/apps\/my-auto-affordability\" data-dig-id=\"LP-58023-13580f61\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"My Auto Affordability Tool\" class=\"rbc-link-format\">My Auto Affordability Tool<\/a><\/h4>\n\n\n\n<p>Let us help you finance the car \u2014 and car loan \u2014 that\u2019s just right for you. See how much of a loan you would qualify for* before visiting a dealership.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/section>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-group mar-b has-cool-white-background-color has-background is-layout-constrained wp-block-group-is-layout-constrained\">\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full is-resized mar-l-hlf mar-r\"><img loading=\"lazy\" decoding=\"async\" width=\"299\" height=\"203\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2023\/07\/Picture1.png?quality=80\" alt=\"Person entering their credit card details on a laptop\" class=\"wp-image-85053\" style=\"aspect-ratio:1;object-fit:cover;width:215px;height:auto\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h4 class=\"wp-block-heading\">Looking to buy a new car?<\/h4>\n\n\n\n<p><a href=\"https:\/\/apps.royalbank.com\/apps\/my-auto-affordability\" target=\"_blank\" data-dig-id=\"LP-58183-8e93d6c3\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Find out\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Find out<\/a> how much you can afford before visiting a dealership.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.rbcroyalbank.com\/car-loans\/\" target=\"_blank\" data-dig-id=\"LP-58183-3cdbf8dd\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Check out\" rel=\"noreferrer noopener\" class=\"rbc-link-format\">Check out<\/a> RBC\u2019s Car Loan Payment Calculator and options to finance your new vehicle.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-rbc-rbc-default-collapsible\"><p><button class=\"collapse-toggle collapsed\" data-target=\"#collapse834a1009\" data-toggle=\"collapse\" aria-expanded=\"false\" aria-controls=\"collapse834a1009\" data-dig-id=\"LP-57738-834a1009\" data-dig-category=\"LP\" data-dig-action=\"accordion closed\" action-closed=\"accordion closed\" action-opened=\"accordion open\" data-dig-label=\"Things our lawyers want you to know\"><span>Things our lawyers want you to know<\/span><span>Things our lawyers want you to know<\/span><\/button><\/p><div class=\"collapse-content collapse\" id=\"collapse834a1009\">\n<div class=\"wp-block-rbc-collapsible-inner-block collapse-inner\">\n<p>This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\t\n\t<div class=\"wp-block-tk-spacer id-89f803db-8f93-46c8-840a-6fcff45c4f77\" aria-hidden=\"true\"><\/div>\n\t\n\n\n<p class=\"has-text-align-center h5 mar-b\"><strong>Share This Article<\/strong><\/p>\n\n\n\n\t\t<div class=\"socials-block\">\n\t\t\t    <div class=\"social-links mob-mar-b-hlf mob-mar-t-hlf\">\n            <a class=\"social-button-wrapper sharing-custom sharing-email\" href=\"mailto:?subject=The Impact of Credit Scores on Car Loan Rates &#038;body=Hi, I thought you might be interested in this article from RBC My Money Matters: https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/\">\n        <img decoding=\"async\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-email.svg\"\n          alt=\"envelope icon\">\n        <span>\n          Email        <\/span>\n      <\/a>\n      <div class=\"social-button-wrapper sharing-copy-wrapper\">\n        <button class=\"sharing-custom sharing-copy\" data-url=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-vehicle\/financing-your-car\/the-impact-of-credit-scores-on-car-loan-rates\/\">\n          <img decoding=\"async\"\n            src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/plugins\/rbc-blocks\/assets\/img\/icons\/icon-related.svg\"\n            alt=\"copy icon\">\n          <span id=\"sharing-copyUrl-Label\">\n            Copy URL          <\/span>\n        <\/button>\n        <input type=\"text\" class=\"sharing-copy-text\" aria-labelledby=\"sharing-copyUrl-Label\">\n      <\/div>\n    <\/div>\n  \t\t<\/div>\n\n\t\t\n\n\t\n\t<div class=\"wp-block-tk-spacer id-5784dfea-89c7-43d2-b779-7aa82e2b6e3c\" aria-hidden=\"true\"><\/div>\n\t\n\n\n\t\t\t<div class=\"wp-block-rbc-single-post-topics related-topics-links\">\n\t\t\t\t<p class=\"h5 mar-r-hlf\">Topics:<\/p>\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/credit-and-debt\/\" class=\"btn topic mar-t-0 mar-r-qtr mar-b-hlf\">Credit and Debt<\/a>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n<\/section>\n\n\n\n<section class=\"wp-block-rbc-section-block  pos-rel mob-pad-t-dbl\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<h2 class=\"wp-block-heading mar-b mob-mar-b-dbl mar-t-0\" id=\"h-read-this-next\">Read This Next<\/h2>\n\n\n\t\t\t<div class=\"related-posts-type-2\">\n\t\t\t\t<div class=\"related-post-list\">\n\t\t\t\t\t<ul class=\"grid-wpr eh-wpr\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Parents happily celebrating childs graduation while knowing they have been able to balance RESP and RRSP contributions.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg 3900w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_172567265_RESPvsRRSP.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/\">\n\t\t\t\t\t\tParenthood\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/life-events\/finances-and-relationships\/parenthood\/resps-vs-rrsps-how-to-balance-education-and-retirement-savings\/\" class=\"card-title h4 mar-t-0\">RESPs vs RRSPs: How to Balance Education and Retirement Savings<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"A hand holds a disc with a percentage symbol on it, and upward and downward arrows over and below the disc to reflect the rate announcement on September 17, 2025.\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg 5233w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/Sep-15_shutterstock_2438592943.jpg?resize=1024,683 1024w, 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Canada Interest Rate Explained and How It Shapes Your Mortgage<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li class= 'grid-one-third grid-tb-full grid-mob-full mar-b'>\n\t\t\t\t\t\t\t\t\t\t<article class=\"col-wpr mar-b-0 mar-r-0 mar-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"postcard-img-ctr post-card-image col-md-12 col-xs-6 mob-mar-b-0 pad-l-0\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?quality=80&amp;w=1024\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Middle-aged couple walking dog while reflecting on retirement savings and future financial security; image representing retirement readiness planning\" srcset=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg 6720w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=300,200 300w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=768,512 768w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=1024,683 1024w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=1536,1024 1536w, https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2026\/03\/shutterstock_1823396156_retirementreadiness.jpg?resize=2048,1365 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<div class=\"card-details mob-mar-b-0 mob-mar-t-0 pad-r-0 col-md-12 col-xs-6\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"primary-taxonomy primary-link\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/retirement\/planning-for-retirement\/\">\n\t\t\t\t\t\tPlanning for Retirement\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/retirement\/planning-for-retirement\/behind-on-retirement-savings-what-to-do-now\/\" class=\"card-title h4 mar-t-0\">Behind on retirement savings? What to do now.<\/a>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/div>\n<\/section>\n<style class=\"advgb-styles-renderer\">\n\t\t.wp-block-tk-spacer.id-97b574aa-d43d-47d5-a73e-9a0c9702e55a {\n\t\theight: 1px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-97b574aa-d43d-47d5-a73e-9a0c9702e55a {\n\t\t\theight: 24px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-89f803db-8f93-46c8-840a-6fcff45c4f77 {\n\t\theight: 96px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-89f803db-8f93-46c8-840a-6fcff45c4f77 {\n\t\t\theight: 30px;\n\t\t}\n\t}\t\n\t\t.wp-block-tk-spacer.id-5784dfea-89c7-43d2-b779-7aa82e2b6e3c {\n\t\theight: 60px;\n\t}\n\n\t@media ( max-width: 480px ) {\n\t\t.wp-block-tk-spacer.id-5784dfea-89c7-43d2-b779-7aa82e2b6e3c {\n\t\t\theight: 30px;\n\t\t}\n\t}\t<\/style>","protected":false},"excerpt":{"rendered":"<p>Prevent unwanted surprises during auto loan negotiations by understanding your credit score and it&#8217;s implications.<\/p>\n","protected":false},"author":10,"featured_media":71444,"parent":57289,"menu_order":0,"template":"","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[510],"rbc_content_type":[31],"rbc_audience":[],"rbc_lob_group":[278],"rbc_difficulty_level":[33],"rbc_mmm_category":[307,342,303],"class_list":["post-58113","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-credit-and-debt","rbc_content_type-article","rbc_lob_group-auto-finance","rbc_difficulty_level-beginner","rbc_mmm_category-buying-a-vehicle","rbc_mmm_category-financing-your-car","rbc_mmm_category-goals-aspirations"],"acf":{"contently_publication_id":"359158","custom_author":"Jacob 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