Coast Capital Auto Financing and Mortgage Rates Review

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by Enoch Omololu

Updated

Advertiser Disclosure

Looking for a competitive car loan or mortgage rate in Canada? Coast Capital has got you covered.

Coast Capital Savings is one of the largest credit unions in Canada. It has more than 550,000 members in British Columbia alone and over $25.2 billion in assets.

Coast Capital offers a complete suite of banking services to its members, including chequing, savings, credit cards, personal loans, mortgages, and investments.

Many of these products and services are available across Canada (except Quebec).

Coast Capital Car Loan Financing

  • Loan term: 18-84 months
  • Maximum Loan: The minimum loan is $10,000 with no maximum loan amount
  • Loan interest: Coast Capital offers competitive interest rates

Coast Capital offers auto financing for new cars, used cars, and leases. You can also refinance your existing car loan in order to take advantage of a lower interest rate that saves you money in the long term.

The application process takes about 10 minutes and you can complete it online from the comfort of your home.

Auto financing is available for various types of vehicles including electric, luxury, commercial, and delivery vehicles.

To qualify for a Coast Capital auto loan, you must meet the following requirements:

  • Be a resident of British Columbia, Ontario, Manitoba, New Brunswick, Prince Edward Island, Alberta, or Newfoundland and Labrador.
  • Have reached the age of the majority in your province i.e. 18 or 19+.
  • Have a credit score of 650+ (Beacon Score) and an established credit file (does not guarantee approval).
  • Have not declared bankruptcy.
  • Have a verifiable source of income.
  • Other credit and lending criteria may apply.

Loan applications are processed quickly and you can expect to hear back about the next steps within one business day.

APPLY FOR AUTO FINANCING

Coast Capital Mortgage Rates

Coast Capital offers first-time homebuyer mortgage loans as well as mortgage renewal loans.

You can choose from fixed-rate mortgages with terms ranging from 1-10 years, or choose a variable-rate mortgage with a 1 or 5-year term.

Coast Capital’s mortgage pre-approval application is available online and takes about 10 minutes to complete.

CHECK MORTGAGE RATES

Is Coast Capital Safe?

Coast Capital is a federal credit union and a member of the Canada Deposit Insurance Corporation (CDIC). CDIC membership means that your deposits are insured up to $100,000 per insured category, per depositor.

As a member, you purchase $5 in membership equity shares and are able to vote on the Board of Directors.

For more details about what this credit union offers, read our Coast Capital Savings Credit Union review.

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Author

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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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