Car loan ratings methodology

Finder’s car loan experts assess auto loans across six key categories to help you objectively evaluate a car loan’s overall features and suitability for your unique needs.

The six categories we measure are:

1. Primary loan features (rates, loan terms and amounts)
2. Ease of process
3. Availability in Canada
4. Eligibility requirements
5. Customer service
6. Brand presence

Data collection

We collect data manually through online research and from providers directly.

Category weightings

We weigh each metric based on factors we believe are most important to customers looking for a good car loan. Car loans earn a score in each category and then an overall score based on the weightings detailed on this page.

1. Primary loan features (rates, loan terms and amounts): 30%
2. Ease of process: 20%
3. Availability in Canada: 15%
4. Eligibility requirements: 15%
5. Customer service: 10%
6. Brand presence: 10%

Scoring and rating

Wondering how we work out Finder Score? We look at six car loans and we compare them against each other to get our simple score out of 10. Metrics like interest rates, loan amounts and loan terms are weighted and added to come up with individual Finder Scores.

Car loans are evaluated on the six key categories outlined on this page. These categories are broken down into 23 different data points.

• 9+ Excellent – The crème de la crème of car loans. These products offer the best mix of car loan features across the six categories.
• 7+ Great – The mix of features across categories is great but not optimal.
• 5+ Satisfactory – Typically average in the features department.
• Less than 5 – Basic – The least competitive in terms of features.

Data points

Data points are weighed differently, depending on their importance. Examples of data points we look at when comparing car loans include the following:

• Interest rates
• Loan amounts
• Loan terms
• Provinces served
• Minimum incomes

No single car loan will be the best choice for everyone, so thoroughly compare your options before picking an auto loan.

Written by

Leanne Escobal

Publisher

Leanne Escobal is a publisher for Finder. She has spent over 12 years working with financial products and services, specializing in content and marketing. Leanne has completed the Canadian securities course (CSC®) as well as the personal lending and mortgages course by the Canadian Securities Institute. She has a Bachelor of Arts (Honours) in English literature and creative writing from Western University. See full bio