24-Month 4x4 Auto Loan Estimates for Quebec (600-700 Credit Score)
You've made some specific choices: a rugged 4x4 vehicle, a fast-track 24-month loan term, and you're financing in Quebec with a credit score in the 600-700 range. This page is built specifically for your scenario, providing data-driven estimates to help you plan your purchase with confidence.
A 24-month term is an aggressive strategy to pay off your vehicle quickly and save thousands in interest, but it results in a higher monthly payment. With a credit score between 600 and 700, you are in a good position to secure an approval, though the interest rate will be higher than for prime borrowers. Let's break down what this means for your budget.
How This Calculator Works
Our calculator is designed to give you a transparent estimate based on the unique factors you've selected. Here's a breakdown of the key variables at play:
- Vehicle Price: The total cost of the 4x4 you're considering.
- Down Payment: The amount of cash you put down upfront. A larger down payment reduces your loan amount and monthly payment.
- Interest Rate (APR): For a 600-700 credit score in Quebec, rates typically range from 8.99% to 15.99% APR. Our calculator uses a realistic midpoint for its estimates. Your final rate depends on your specific credit history and income stability.
- Loan Term: You've selected 24 months. This significantly increases the monthly payment compared to longer terms but drastically reduces the total interest you'll pay.
- Quebec Tax (QST/GST): The calculator shows 0% tax because in Quebec, the sales taxes (GST/QST) on a used vehicle are paid directly to the Société de l'assurance automobile du Québec (SAAQ) when you register the vehicle. They are typically not included in the financing amount from the dealership. For new vehicles, tax is included in the dealer's bill of sale and can be financed. Be sure to budget for this separate cost.
Example 4x4 Loan Scenarios (24-Month Term)
To give you a clear picture, here are some estimated monthly payments for popular 4x4 vehicles in Quebec. These examples assume a $0 down payment and an estimated interest rate of 11.9% APR, which is common for the 600-700 credit range.
| Vehicle Price | Estimated Monthly Payment (24 Months) | Total Interest Paid |
|---|---|---|
| $25,000 | ~$1,175/month | ~$3,195 |
| $35,000 | ~$1,645/month | ~$4,475 |
| $45,000 | ~$2,115/month | ~$5,750 |
Disclaimer: These are estimates only and do not constitute a loan offer. Payments are calculated On Approved Credit (OAC).
Your Approval Odds with a 600-700 Credit Score
Your approval odds are strong. A score in the 600-700 range is considered "fair" to "good" by most lenders. They see you as a responsible borrower who may have had some minor credit challenges in the past. To secure the best rate, lenders will focus on two key factors beyond your score:
- Income Stability: Lenders want to see a consistent and provable source of income that can comfortably cover the high monthly payment of a 24-month term.
- Debt-to-Service Ratio (DSR): Your total monthly debt payments (including this new car loan) should ideally not exceed 40% of your gross monthly income.
Even with past credit issues, you have options. Many people don't realize that lenders can be flexible. For example, some lenders understand that past credit issues don't tell the whole story. To learn more about this perspective, read our article: Your Missed Payments? We See a Down Payment. If you're self-employed, proving income can be a hurdle, but solutions exist. For more details, check out Self-Employed? Your Income Verification Just Got Fired. And if your credit file is thin rather than damaged, our guide Blank Slate Credit? Buy Your Car Canada 2026 can provide valuable insights.
Frequently Asked Questions
Why does the calculator show 0% tax for Quebec?
In Quebec, for used vehicle purchases, the QST (9.975%) and GST (5%) are not paid at the dealership. Instead, you pay these taxes directly to the SAAQ when you register the vehicle. Therefore, the tax is not part of the financed loan amount, which is why our calculator excludes it for accuracy. For new cars, tax is included and can be financed.
What interest rate can I really expect with a 650 credit score in Quebec?
With a credit score of around 650, you can generally expect an interest rate between 8.99% and 15.99% APR. The final rate will depend on factors like your income stability, employment history, the size of your down payment, and the specific vehicle you choose. A stable job and a down payment can help you secure a rate at the lower end of that range.
Is a 24-month loan for a 4x4 a good idea?
It can be a very smart financial move if you can afford the high monthly payment. The main benefit is that you pay significantly less in total interest over the life of the loan and you own the vehicle free-and-clear in just two years. The major drawback is the strain on your monthly budget. Ensure the payment fits comfortably within your finances before committing.
How does a down payment affect my 24-month loan for a 4x4?
A down payment has a powerful impact, especially on a short-term loan. It directly reduces the principal amount you borrow, which lowers your high monthly payment. For lenders, a down payment also shows financial commitment and reduces their risk, which can sometimes help you get approved at a slightly better interest rate.
Can I get approved for a 4x4 in Quebec if my income is low but my credit is 680?
It's possible, but your income is the most critical factor. Lenders use a Total Debt Service Ratio (TDSR) to ensure you can afford the payments. Even with a good credit score, if the high monthly payment of a 24-month loan on a 4x4 pushes your TDSR above 40-45% of your gross income, you may be declined or asked to consider a longer term or a less expensive vehicle.
