Apply for a CIBC car loan in Ottawa, reviewed by our experts. As of 10.11.2025, there are options available. Increase your chances of approval by completing an online application and getting a free credit rating check.
Update date 27.08.2024
Key Features
Loan Term. CIBC auto loans offer a flexible repayment period ranging from 1 to 8 years, allowing borrowers to tailor the loan term according to their financial preferences and capabilities.
Loan Amount. Borrowers can access loan amounts starting from $7,500, providing financial support for a wide range of vehicle purchases, from budget-friendly options to higher-end models.
Nationwide Coverage. CIBC auto loans serve all provinces across Canada, ensuring accessibility to financing solutions regardless of the borrower's location.
Eligible Vehicles. CIBC extends financing options for both new and used vehicles, accommodating diverse preferences and budgetary constraints. Vehicles up to 10 years old are eligible for financing, allowing borrowers to choose from a broad selection of cars that suit their needs.
How to Get a CIBC Car Loan in Ottawa?
Through Our Website
Go to finanso.com. Open your preferred web browser and navigate to the Finanso website.
Search for CIBC Car Loans. Once on the Finanso homepage, use the search functionality to find CIBC.
Choose the CIBC Car Loans. From the search results, locate and select CIBC Car Loans as your preferred product.
Click Apply. On the CIBC Car Loans page, look for the "Apply" button. Click on it to initiate the loan application process.
Redirected to the CIBC Website. After clicking "Apply," you will be redirected to the official CIBC website. This is a secure transition to ensure your personal information is handled within CIBC's system.
Choose the Lending Section. Once on the CIBC homepage, locate the section related to lending or loans. This section may be labeled as "Borrowing" or "Loans & Lines of Credit."
Click on "Car Loans". Within the lending section, look for the specific category of car loans. This will be listed as "Car Loans".
Click on the "Applying Online" Link. Within the” CIBC Personal Car Loan details or at a glance” section, there should be a link or button labeled "Applying Online". Click on this link to proceed with the online application process.
Fill Out the Application. You'll be directed to the online application form for the CIBC car loan. Provide accurate and complete information as requested in the application form. This typically includes personal details such as your name, contact information, employment details, income, and information about the vehicle you intend to purchase.
Review and Submit Your Application. Once you've filled out all the required fields in the application form, take a moment to review the information for accuracy. Make any necessary corrections before applying. After reviewing, submit your application electronically.
Through the Bank's Website
Go to the CIBC Website. Open your web browser and navigate to the official website of CIBC (Canadian Imperial Bank of Commerce).
Choose the Lending Section. Once on the CIBC homepage, locate the section related to lending or loans. This section may be labeled as "Borrowing" or "Loans & Lines of Credit."
Click on "Car Loans". Within the lending section, look for the specific category of car loans. This will be listed as "Car Loans".
Click on the "Applying Online" Link. Within the” CIBC Personal Car Loan details or at a glance” section, there should be a link or button labeled "Applying Online". Click on this link to proceed with the online application process.
Fill Out the Application. You'll be directed to the online application form for the CIBC car loan. Provide accurate and complete information as requested in the application form. This typically includes personal details such as your name, contact information, employment details, income, and information about the vehicle you intend to purchase.
Review and Submit Your Application. Once you've filled out all the required fields in the application form, take a moment to review the information for accuracy. Make any necessary corrections before applying. After reviewing, submit your application electronically.
At the Bank's Office
Visit a CIBC Branch. Locate a CIBC branch that is convenient for you to visit.
Speak to a Representative. Upon arrival at the branch, approach one of the bank's representatives and express your interest in applying for an auto loan.
Provide Necessary Documents. The representative will guide you through the application process and inform you about the documents you need to provide.
Complete Application Form. Fill out the necessary application forms provided by the CIBC representative. Be prepared to provide information about your financial situation.
Undergo Credit Assessment. CIBC will conduct a credit assessment to determine your eligibility for the auto loan. This may include evaluating your credit history and financial standing.
Review and Sign the Agreement. Once your application is processed and approved, carefully review the terms and conditions of the auto loan agreement provided by CIBC. Sign the agreement if you agree to the terms.
Requirements and Conditions
Requirements
Canadian Residency and Age. You must be a Canadian resident and have reached the age of majority in your province. This ensures that you have the legal capacity to enter into a loan agreement.
Minimum Annual Income. You need to have a minimum total annual income (gross) of $17,000. This income requirement helps ensure that you have the financial means to repay the loan.
Individual Application. You must apply for the loan in your own name and not on behalf of a third party. This requirement ensures that the loan agreement is entered into by the borrower directly.
Credit History. You must not have been declined for credit by CIBC in the last 6 months, and you must not have declared bankruptcy in the past 7 years. This criterion helps assess your creditworthiness and ability to manage debt responsibly.
Conditions
APR Range. The Annual Percentage Rate (APR) for CIBC auto loans varies depending on factors such as creditworthiness, loan term, and the prevailing market conditions. Borrowers can contact CIBC or visit their website for current APR information.
Loan Amount. CIBC auto loans offer financing starting from $7,500. This minimum loan amount provides borrowers with the flexibility to finance a wide range of vehicle purchases, from affordable options to higher-end models.
Loan Term. Borrowers can choose a loan term ranging from 1 to 8 years. This flexibility allows borrowers to select a repayment period that aligns with their financial goals and budgetary constraints.
