AWD Car Loan Payments in Quebec for a 600-700 Credit Score
Navigating the car loan process in Quebec with a credit score between 600 and 700 puts you in a strong position. You're not considered high-risk, but you're not in the prime category either. This calculator is specifically designed to provide realistic estimates for financing an All-Wheel Drive (AWD) vehicle, a popular and practical choice for Quebec's demanding seasons.
This tool helps you understand what you can afford, what your monthly payments might look like, and how to approach financing with confidence. Use the calculator above to input your desired vehicle price and see your estimated payment.
How This Calculator Works
This calculator provides an estimate based on data points specific to your situation: a fair credit profile in Quebec looking for an AWD vehicle.
- Vehicle Price: This is the total amount you intend to finance. Important Note on Quebec Taxes: While Quebec has a combined GST/QST rate of 14.975%, this calculator assumes you enter the total, all-in price of the vehicle, including taxes and fees. Lenders finance the full amount, so this gives you the most accurate payment estimate.
- Interest Rate (APR): For a 600-700 credit score, rates typically range from 8.99% to 14.99% OAC. We use a realistic average for this credit tier. Your final rate depends on your full credit history, income stability, and the vehicle's age.
- Loan Term: The length of your loan, typically between 60 to 84 months for used vehicles. A longer term lowers your monthly payment but increases the total interest paid.
- Down Payment: Any cash you put down upfront. This reduces the total amount financed, lowering your payment and often improving your interest rate.
Approval Odds & What Lenders Look For (600-700 Credit)
With a score in the 600-700 range, your approval odds are generally high, but lenders will look closely at a few key factors to determine your rate:
- Income Stability: Lenders want to see a consistent and verifiable source of income (e.g., pay stubs, bank statements) that can comfortably cover the new car payment plus your other debts. A stable job history is a significant asset.
- Debt-to-Service Ratio (DSR): Lenders will calculate your total monthly debt payments (including the new car loan) against your gross monthly income. They typically want to see this ratio below 40-45%.
- Credit History Details: They'll look beyond the score. Do you have a history of consistent payments on other loans (credit cards, past car loans)? Recent late payments are weighed more heavily than older ones. If you've recently finished a debt program, it's crucial to understand how that impacts your application. For more on this, check out our Get Car Loan After Debt Program Completion Guide.
Example Scenarios: Financing an AWD Vehicle in Quebec
AWD vehicles often have a slightly higher purchase price than their FWD counterparts. Here are some realistic payment estimates for popular used AWD models in Quebec, assuming a $2,000 down payment and an average interest rate of 11.9% for this credit tier.
| Vehicle Example (Used AWD) | Price (Taxes In) | Amount Financed | Est. Monthly Payment (72 mo) | Est. Monthly Payment (84 mo) |
|---|---|---|---|---|
| Subaru Crosstrek / Hyundai Kona | $22,000 | $20,000 | ~$386 | ~$343 |
| Toyota RAV4 / Nissan Rogue | $28,000 | $26,000 | ~$502 | ~$446 |
| Ford Escape / Mazda CX-5 | $34,000 | $32,000 | ~$618 | ~$549 |
Disclaimer: These are estimates only and do not constitute a loan offer. Rates and payments are On Approved Credit (OAC).
Trading in a vehicle with an existing loan can also affect your financing. If you owe more than your car is worth, this is called negative equity. We specialize in these situations. Learn more in our guide: Your Negative Equity? Consider It Your Fast Pass to a New Car.
Frequently Asked Questions
Can I get a car loan in Quebec with a 620 credit score?
Absolutely. A 620 credit score falls squarely in the 'fair' credit range that many of our lending partners in Quebec work with. While you won't get prime bank rates, you can secure competitive financing. Lenders will focus heavily on your income stability and your ability to make the monthly payments.
Do I need a down payment for an AWD car with a 650 credit score?
A down payment is not always mandatory, but it is highly recommended. For a 650 score, providing a down payment of $1,000 to $2,000 or more shows financial commitment, reduces the lender's risk, lowers your monthly payment, and can help you get a better interest rate.
What interest rate can I expect in Quebec with a 680 credit score?
With a 680 credit score, you are on the higher end of the 'fair' credit tier. You can expect interest rates to be more competitive, potentially in the 8% to 12% range, depending on the vehicle's age and your overall financial profile. This is significantly better than rates for scores below 600.
Does choosing an AWD vehicle affect my loan approval?
The vehicle type itself (AWD) doesn't directly impact approval, but its price does. AWD models are often more expensive than their 2WD counterparts, which means a larger loan amount. The key is ensuring the total loan amount fits within your affordability, as determined by your income and existing debts. If you have past credit issues like collections, a strong income can still secure an approval. For more on this, see our article, Toronto Essential: Collections? Drive *Anyway*, which has principles that apply across Canada.
How is tax calculated on a car loan in Quebec?
In Quebec, you pay both GST (5%) and QST (9.975%) on the vehicle's purchase price, for a total of 14.975%. This total tax amount is added to the price, and the entire sum is what gets financed. Our calculator simplifies this by asking for the 'total price' to give you an accurate payment on the final financed amount.
