Commercial car loan

What's a commercial car loan?

A commercial car loan helps businesses finance vehicles for operations or growth.

What is it for?

Need a new van for deliveries or a car for client visits? A commercial car loan helps you spread the cost of buying or upgrading business vehicles.

How it works?

Apply for a сommercial car loan, get approved, and receive the funds to purchase your vehicle. Repay in manageable monthly installments while your new vehicle supports your business operations.

Get to know commercial car loans

Term

Loan term up to 5 years

Repayment

Flexible repayment options

Car types

Finance new & used vehicles

Rate

Fixed rate

Need professional advice?

We are here to help with all your questions!

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Scale your business with flexible car financing

Maximize deferred payments

Get competitive rates and spread costs over time without draining your resources.

Apply fast and pay with ease

Experience quick approval and flexible payments for your stress-free loan management.

Personalized approach

Connect with our Commercial Lending team who makes real effort to meet your unique needs with tailored solutions.

Simple process,
great benefits

Please note!

Each application is unique with it’s own circumstances. For your individual case we advise you to speak to our Financial Services Officers

Explore car options

Research your desired vehicles based on your preferences and budget. Connect with dealers and explore your options.

Connect with us

Talk to our Commercial Lending team. They will answer your questions and guide you through the process. You can book a meeting, or find a nearest branch.

Submit necessary documents

For loan qualification, our Commercial Lending team will guide you which documents need to be submitted.

Finalize your loan

You can do it at one of our branches in GTHA and Ottawa. Check locations.

Please note!

Each application is unique with it’s own circumstances. For your individual case we advise you to speak to our Financial Services Officers

Expand your fleet easily
with BCU commercial car loans

Book an appointment

Questions? We got answers!

Browse more FAQs

Who can apply for a commercial car loan?

Businesses, self-employed individuals, and corporations can apply for a commercial car loan. Eligibility depends on factors like credit history, business financials, and the type of vehicle being financed. If you’re unsure, our team can help determine the best option for your business needs.

What types of vehicles can I finance?

With a commercial car loan, you can finance a variety of vehicles, including company cars, work trucks, vans, and specialty vehicles used for business operations. The eligibility may depend on the type of business and the intended use of the vehicle. Our team can help you find the best financing option for your needs.

How long does the loan approval process take?

Our car loan approval usually takes a few business days, but it can be faster if all required documents are provided. The process may take longer if additional information or verification is needed.

Can I pay off my loan early?

Yes, you can pay off up to 20% of your original car loan amount in a 12-month period early without any penalties. However, it’s always a good idea to check your loan agreement for any specific conditions or fees related to early repayment.

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