Grad Auto LoansGraduate to a car you love
Did you know?
Scotiabank is the TOP choice for vehicle financing1
No payments for
Buy a car up to 90 days before you start a full-time job
Make no payments for up to 90 days
Skip the down payment with 100% financing2
Buy a new vehicle or a used one that’s up to 3 years old
Get the best deal at your dealership
It’s the ideal way to stay on budget
You could get cash back, 0% financing or outstanding loyalty rebates3
Ask for Scotiabank financing at over 4,000 dealerships across Canada
Scotiabank is the top choice from coast to coast1
Applying is simple
You’ll need to show that you graduated – or are about to. That means bringing:
A college diploma (minimum 2-year program); or
A university degree (minimum 3-year program);
Or, if you’re in your final year, just show reasonable proof that you’re getting your degree and graduating within 90 days
You’ll also need to show proof that:
Your job starts within 90 days of you buying the car. For example, you could bring a letter from your employer or a contract with your start date
Your income is high enough to cover your debts. A letter from your employer that states your expected salary would be ideal
Manage your loan online anywhere, anytime
Find out how much is left on your loan and when your next payment is due
See your payment amount and remaining term.
Make an extra payment or boost your payment amount
Change your payment days or frequency
Use your loan account number to activate online access
Enjoy flexible payment options
Take up to 5 years (60 months) to pay back your loan.
Choose a fixed or variable rate4
Pick a weekly, bi-weekly or monthly payment plan
Change how much you pay*, how often, or even what days you make a payment
Pay off your loan or make a pre-payment at any time without penalty
Take a payment break
Need a little breathing room? You can postpone one payment each year that you have the loan†
Scotiabank has the highest market share in Prime Retail Automotive Finance among Canadian Banks as calculated using industry reports.
Subject to credit approval and security.
Special offers and incentives may vary by dealership or manufacturer, may be available for a limited time and are subject to change or cancellation. Contact your dealership for full details.
Variable rate not available in Quebec.
Payments can be increased for up to 200% of original payment amount.
Interest will continue to accrue during any payment deferral period. One regular monthly principal payment extension is allowed in every calendar year. Payment extension request must be received at least three business days before the next payment date, loan amortization will be extended by one month, life and disability coverage, if applicable, will be extended by one month, interest portion of the payment will still be debited from the pre-authorized account-only the principal portion is extended. Payment extensions are not processed in the following cases: request is for first loan payment, loan is in arrears, loan is within three months of the maturity date, loan currently has a pending loan extension, request is received less than two days of a regular loan payment, loan has a quarterly/semi-annual/annual payment frequency.