1. Home
  2. Explain the Bank of Canada policy interest rate used for car loans?

Explain the Bank of Canada policy interest rate used for car loans?

Open Your Account

Explain the Bank of Canada policy interest rate used for car loans?

Car Loan Terminology | boc, macro, rates

Lenders price car loans off their funding costs and risk, not directly the policy rate, but BoC's key rate is 2.75% (as of July 30, 2025). Rate cuts or hikes influence market rates.

Related Topics

boc macro rates

Explore More Terms

Continue learning about car loan terminology:

View All Terms E Terms

Related Terms

You might also be interested in these related financial terms:

Explain an auto loan APR in Canada?

APR is the annual percentage rate. In Canada, criminal interest is now 35% APR (effective January 1, 2025, Criminal Code...

What is the Bank of Canada policy interest rate used for car loans?

Lenders price car loans off their funding costs and risk, not directly the policy rate, but BoC's key rate is 2.75% (as...

What is the Bank of Canada policy interest rate used for car loans in Canada?

Lenders price car loans off their funding costs and risk, not directly the policy rate, but BoC's key rate is 2.75% (as...

Explain negative equity in a trade‑in?

Negative equity happens when your trade‑in's value is less than your outstanding loan. Rolling it into a new loan increa...

Browse by Letter

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Popular Terms

Quick Actions

Term Categories

boc macro rates

With over 50 years of experience in the automotive industry, we know what we're doing when it comes to getting the best deals. We specialize in credit building and rebuilding, and with our expertise, we're sure to find a solution that suits you! Its our Skip Car Dealer Guarantee.

155-2 King Street West, Unit #107, Hamilton, ON, L8P 4S0

888-270-SKIP (7547)

About

Contact

Copyright © 2020 Skip Car Dealer All Rights Reserved.

Terms of use | Privacy Policy

Top