Credit Score Needed for Car Loan Canada 2026 | Easy Ride

Canadian credit scores are calculated by Equifax and TransUnion on a scale of 300 to 900. The higher your score, the lower the risk you represent to lenders, and the better the interest rate you'll receive.

Here's how lenders typically categorize scores:

Canada's major banks — TD, RBC, BMO, Scotiabank, CIBC — typically require a minimum credit score of 650–680 for auto loan approval. Some are stricter, requiring 700+.Credit unions in BC often have slightly more flexible thresholds, starting around 620–640.

Easy Ride Canada's network of 20+ lending partners includes specialty bad credit auto lenders who work with scores as low as 450.

Your credit score is the primary driver of your auto loan interest rate in Canada.

In BC, specialty lenders consider several factors beyond credit score: Minimum monthly net income of $1,800–$2,200 is typically required.

You can check your score for free without impacting it through: Borrowell (Equifax score, free), Credit Karma (TransUnion score, free), or your bank's mobile app (many major banks now include free credit monitoring).