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Car Deal Canada
CIBC Car Loan Rates

CIBC Car Loan Rates

CIBC Car Loan Rates
About CIBC

The CIBC car loan rates are some of the most popular rates in Canada.

The Canadian Imperial Bank of Commerce (CIBC) holds a prestigious position among Canada’s big five banks. Its formation took place in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, making it the most significant bank merger in Canadian history. With its headquarters situated in Toronto, it stands as one of the two banks, along with the Toronto Dominion Bank, to originate from this thriving city.

CIBC boasts a vast workforce of over 40,000 dedicated employees and serves a diverse clientele of over 11 million customers worldwide. Throughout its history, the bank has earned a strong reputation for providing exceptional financial services and support to individuals and businesses across the globe. With its extensive reach and commitment to excellence, CIBC continues to be a driving force in the Canadian financial landscape.

About CIBC

The CIBC car loan rates are some of the most popular rates in Canada. The Canadian Imperial Bank of Commerce (CIBC) holds a prestigious position among Canada’s big five banks. Its formation took place in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, making it the most significant bank merger in Canadian history. With its headquarters situated in Toronto, it stands as one of the two banks, along with the Toronto Dominion Bank, to originate from this thriving city.

CIBC boasts a vast workforce of over 40,000 dedicated employees and serves a diverse clientele of over 11 million customers worldwide. Throughout its history, the bank has earned a strong reputation for providing exceptional financial services and support to individuals and businesses across the globe. With its extensive reach and commitment to excellence, CIBC continues to be a driving force in the Canadian financial landscape.

7.99%

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Current CIBC Car Loan Rates

Loan terms up to 78 months

7.99% - 9.99%

OAC

Loan terms of 84 months

7.99% - 9.99%

OAC

Loan terms over 84 months

7.99% - 9.99%

OAC

Car Loan Application showing CIBC car loan rates


Use Our Car Loan Calculator To Get The Best CIBC Auto Loan Rates

Want to find out your Payments With A CIBC Car Loan? 

Discover the convenience of our state-of-the-art car loan calculator, making it effortless to estimate your monthly payments with the Canadian Imperial Bank of Commerce (CIBC) rates. Simply input your desired CIBC car loan rate from the provided rate sheet and customize the terms to perfectly align with your preferences.

We deeply understand the paramount importance of staying within your budget while embarking on the journey to find your dream car. To cater to this essential need, we have meticulously crafted a specialized car payment calculator, designed as your reliable guide throughout the entire process. Empowering you with invaluable insights into your payments, this powerful tool ensures you remain on track every step of the way. Take advantage of our user-friendly car loan calculator to pave the way towards owning the car you’ve always desired.

CIBC Contact Information

CIBC Car Loan Questions?

Answer: CIBC offers loans for both new and used cars purchased from dealerships or private sellers

Answer: Yes, CIBC typically allows for online applications for car loans.

Answer: Interest rates vary based on credit history, loan amount, and loan term. CIBC offers competitive rates in line with industry standards. They currently start at 7.99% and go up from there.

Answer: Loan approval times can vary, but CIBC strives to provide a quick response, often within a few business days.

Answer: A down payment is not always necessary but can lower the total loan amount and monthly payments.

Answer: Yes, CIBC offers financing for both new and used vehicles.

Answer: Terms may vary, but typically CIBC car loans allow for early repayment without significant penalties.

Answer: Generally, you need proof of income, identification, proof of insurance, and details about the vehicle.

Answer: CIBC may offer pre-approval for car loans, allowing you to shop for a car with a clear budget in mind.

Answer: CIBC assesses loan applications on a case-by-case basis, and while there’s no strict minimum credit score, credit history is an important factor.

Answer: Yes, but additional documentation for income verification may be required.

Answer: Loan eligibility for non-residents depends on various factors including credit history and residency status.

Answer: Loan terms vary, typically extending up to 7 years.

Answer: CIBC may offer refinancing options for existing car loans.

Answer: They occasionally have promotional offers or special programs, especially for customers with excellent credit histories or for certain vehicle models.

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