Owning a financed car in Vancouver costs about $789 to $923 a month at 9.99% to 19.99% APR over 72 months. Riding TransLink instead costs $117.20 a month for a one-zone adult pass (checked October 15, 2026).
The range covers a $22,000 dealer car with GST and PST borrowed and no money down. Gas is what sets Vancouver apart. At 206.7¢ a litre in August 2026, the highest of our three cities (Statistics Canada), fuel costs more each month than insurance does.
Total a month$789.13
- Loan payment$456.3558%
- Insurance$117.3315%
- Gas$206.7026%
- Parking$8.751%
Insurance is ICBC's BC-wide average, not a quote. Gas assumes 100 litres a month.
The short answer
- 206.7¢
What a litre of regular cost in Vancouver on average in August 2026, 37.9¢ more than a year before (Statistics Canada, table 18-10-0001-01).
- $1,408
ICBC’s average Autoplan premium across BC for the year to March 31, 2026, Basic and Optional combined; it is not a Vancouver figure or a quote (ICBC).
- $2,640
The 5% GST and 7% PST on a $22,000 car from a BC dealer, which our example finances for six years (CRA; NotchUp calculation).
- $117.20
The adult one-zone TransLink monthly pass; two zones cost $156.70 and three cost $211.65 (TransLink).
On this page 6 sections
How much does it cost to own a car in Vancouver?
In Vancouver the standard financed car runs about $789 each month with a 9.99% APR over 72 months. At 19.99% APR it rises to $923 (NotchUp calculation, checked October 15, 2026). That total adds ICBC’s BC-wide average premium, fuel and a $105 permit to the payment, and gas is the second-biggest line.
With 5% GST and 7% PST added at the dealer (CRA), the amount financed is $24,640. The gas line assumes roughly 1,200 km a month at 8.3 L/100 km.
| Expense | Monthly, 9.99% APR for 72 months | Monthly, 19.99% APR for 72 months | Basis and source |
|---|---|---|---|
| Loan payment | $456.35 | $590.05 | NotchUp calculation on $24,640 ($22,000 plus 5% GST and 7% PST). Total repaid $32,857.20 or $42,483.60 |
| ICBC insurance (BC-wide average, not a quote) | $117.33 | $117.33 | ICBC average Autoplan premium of $1,408 for April 2025 to March 2026, divided by 12. Basic and Optional combined, storage and temporary policies included |
| Gasoline, 100 litres (estimate) | $206.70 | $206.70 | Statistics Canada August 2026 price for Vancouver, 206.7¢/L; 75 L costs $155.03 and 125 L $258.38 |
| Residential parking permit | $8.75 | $8.75 | City of Vancouver, $105 a year in most zones; $157.50 or $210 in a few; West End market rate $497.73 |
| Total (NotchUp estimate) | $789.13 | $922.83 | Payment plus ICBC, fuel and permit |
| Licence fee (outside the total) | $3.83 to $11.83 | $3.83 to $11.83 | $46 to $142 a year by vehicle weight, plus $18 once at registration (Motor Vehicle Fees Regulation) |
| TransLink pass (alternative) | $117.20 | $117.20 | Adult monthly pass, one zone; $156.70 for two zones, $211.65 for three |
| Gap between car and pass | $671.93 | $805.63 | NotchUp calculation, one-zone pass |
Vancouver example: $22,000 used car plus 5% GST and 7% PST, nothing down
- Amount financed
- $24,640
- APR
- 19.99%
- Term
- 72 months
- Monthly payment
- $590.05
- Cost of borrowing
- $17,843.60
- Total repaid
- $42,483.60
Assumes equal monthly payments, no fees outside the APR and no early repayment. Illustration only, not an offer.
On the 19.99% APR, 72-month example, interest totals $17,843.60, part of it on the sales tax you financed. Chartered banks average 6.66% (July 2026, Bank of Canada) on auto loans; for published non-prime offers, see Canadian car loan rates.
How does Vancouver compare with Toronto and Calgary?
Vancouver lands between the other two. The 9.99% APR, 72-month version of our example totals $789 here, compared with $751 for Calgary and $897 for Toronto (NotchUp analysis, October 2026). Vancouver pays the most for fuel and has the smallest insurance benchmark, though ICBC’s average is not like for like.
Loan payment, insurance, gas and a residential parking permit. The insurance benchmarks differ: FSRA's GTA average, AIRB's Alberta average and ICBC's BC-wide average. Estimates, not quotes.
Compare the full breakdowns on our Toronto cost page and Calgary cost page. At 206.7¢ a litre, 100 litres cost about $44 more a month than in Calgary and $36 more than in Toronto (Statistics Canada, August 2026). PST rises in tiers on pricier cars (PST Bulletin 308), as our BC car loan guide explains.
How much is ICBC insurance on a financed car?
ICBC’s only published average is $1,408 per Autoplan policy for the year ended March 31, 2026, about $117 a month (ICBC 2025/26 Annual Service Plan Report). It blends Basic with Optional cover and counts storage and temporary permit policies across BC, so a Vancouver commuter with a financed car may pay more.
ICBC says crash risk is generally higher in populated urban areas, and the Lower Mainland is one of BC’s 14 rating territories. Our tips on lowering an insurance quote can trim the bill.
Is it cheaper to take transit than finance a car in Vancouver?
Yes: a one-zone TransLink adult pass at $117.20 a month is about $672 to $806 cheaper than the benchmark financed car. Even a three-zone pass at $211.65 saves more than $577, and every bus trip counts as one zone (TransLink, checked October 15, 2026). So does any trip after 6:30 p.m. on weekdays or at weekends.
Car totals add loan, ICBC's average premium, 100 litres of gas and a residential permit.
On time, the car usually wins. The 2021 Census put the Vancouver area’s car commute at 25.6 minutes each way against 42.6 on transit, and 14.9% of workers rode transit (Statistics Canada, 98-10-0457-01). The count fell in pandemic-era May 2021, so treat it as approximate.
Debt pressure is lighter here: the Vancouver area recorded 2.5 consumer insolvencies per 1,000 adults in 2025, against 3.4 in Toronto (Office of the Superintendent of Bankruptcy). In a proposal now? See financing a car during a consumer proposal.
Who offers car loans in Vancouver?
Dealer-arranged financing is the main route for non-prime buyers in Vancouver, ahead of online car retailers and marketplaces that pass your application to lenders. The table includes only providers whose own sites confirm BC service, each with our October 15, 2026 check date. No lender may charge over 35% APR, the Criminal Code s. 347 limit.
| Provider | APR as published | Term | Provinces | How to apply | Last verified |
|---|---|---|---|---|---|
| EdenParkThrough a dealer | Not published | Not published | BC, AB, ON | Through a participating dealerWholly owned subsidiary of Fairstone Financial Inc. (Fairstone Bank of Canada); reports payments to the credit bureaus. | Oct 15, 2026 |
| iA Auto FinanceThrough a dealer | From 8.99% | Not published | BC, AB, ON | Through a participating dealer; no direct consumer applicationRate Reducing Loan cuts the rate by 10% of the current rate every 12 months if all payments are on time and loan terms are met. | Oct 15, 2026 |
| LendCareThrough a dealer | Not published | Not published | BC, AB, ON | At the dealer's point of sale (dealer uses LendCare's FrontLine portal)Finances vehicles with no age restriction and up to 250,000 km; wholly owned subsidiary of goeasy Ltd. | Oct 15, 2026 |
| Prefera FinanceThrough a dealer | Up to 28.00% | Not published | BC, AB, ON | Through a participating dealer (Dealertrack / Compass Direct Portal)Mainly recreational and powersports financing; its 15-year terms apply to those loans, not cars. | Oct 15, 2026 |
| Rifco National Auto FinanceThrough a dealer | From 12.90% | Not published | BC, AB, ON | Through a participating dealerDescribes itself as 'Full spectrum non-prime lending' for dealers across Canada. | Oct 15, 2026 |
| Santander Consumer BankThrough a dealer | Not published | Up to 96 months | BC, AB, ON | Choose a vehicle at a dealer that uses Santander; the dealer submits the applicationRequires minimum income of $1,800/month and finances vehicles up to 10 model years old and 180,000 km. | Oct 15, 2026 |
| Scotia Dealer AdvantageThrough a dealer | Not published | Up to 96 months | BC, AB, ON | Only through partner dealers; no direct applicationScotiabank's dealer arm for near and non-prime loans, including buyers with no credit history. | Oct 15, 2026 |
| easyfinancialApply directly | 29.99% to 35.00%Personal loan rates; no auto-specific rate published | 9 to 84 months | BC, AB, ON | Online or at an easyfinancial branch (unsecured personal loan usable for a vehicle)Home page offers a 2% lower rate with a co-applicant; auto financing through dealers is handled by sister company LendCare. | Oct 15, 2026 |
| FairstoneApply directly | 29.99% to 34.99%Personal loan rates; no auto-specific rate published | 6 to 60 months | BC, AB, ON | Directly, online or at a branch. Fairstone says requesting a quote does not affect your credit score; a full application is a separate step.Private-sale car loans for vehicles 10 model years old or newer, 6 to 60 months. Its page states both $50,000 and $20,000 as the maximum. Its dealer financing arm is EdenPark. | Oct 15, 2026 |
| Canada DrivesLoan marketplace | Not published | Not published | BC, AB, ON | Online pre-approval, then referral to a partner dealer, which runs a credit inquiryNo longer sells cars itself since its 2023 creditor protection filing; it still buys cars from consumers. | Oct 15, 2026 |
| CarsFastLoan marketplace | Not published | Not published | BC, AB, ON | One online application; matched with lenders and a network of about 350 dealershipsStates it assists 'all types of credit including consumer proposals'. | Oct 15, 2026 |
| LoanConnectLoan marketplace | 8.99% to 35.00%Personal loan rates; no auto-specific rate published | 3 to 120 months | BC, AB, ON | Online application searching a network of Canadian lendersPersonal-loan search platform; loans of $500-$50,000 over 3-120 months. | Oct 15, 2026 |
| Loans CanadaLoan marketplace | 9.99% to 35.00%Personal loan rates; no auto-specific rate published | 12 to 96 months | BC, AB, ON | Free online quote; referred to third-party lenders/partner dealershipsSays it is 'a loan search platform and comparison website, not a lender'. | Oct 15, 2026 |
“From” rates go to the strongest applicants; your rate depends on your credit, income, the vehicle and the term. No provider pays NotchUp for its position in this table, which is sorted by type of provider and then alphabetically. Rates are hidden once a row is more than 30 days past its check. Nothing above 35% APR, Canada’s criminal rate, is ever shown. How NotchUp makes money.
Vancouver adds nothing to provincial law. The BC guide linked above covers high-cost credit licensing above 32% APR, the seize-or-sue rule and Vehicle Sales Authority (VSA) dealer checks. A larger down payment shrinks the $2,640 of GST and PST that would otherwise collect interest; see down payments with bad credit.
Frequently asked questions
Does a BC lender make me buy collision cover?
Usually, yes. Your loan contract can require collision even though ICBC treats it as optional. Basic Autoplan is mandatory for every vehicle in BC, and collision pays for repairs to your own car when you are at fault. Read the insurance clause before you sign.
Will ICBC rates go up during a six-year car loan?
Basic rates should hold until spring 2027: on October 28, 2025 the BC government announced “no increase to basic rates through to spring 2027”. A 72-month loan signed today runs well past that, and Optional premiums were never part of the freeze.
Which ICBC rate class do I need if I drive to work?
Pleasure use allows up to six days a month of commuting, business or delivery driving. A driver who commutes more often than that needs a different rate class. ICBC warns that the wrong class could affect your coverage and leave you personally responsible for claim costs.
How do I get a residential parking permit in Vancouver?
Buy it online from the City of Vancouver as the declared principal operator, with ICBC documents showing your address in the permit zone. Then wait three hours before you park. Most zones charge $105 a year, a few charge $157.50 or $210, and the West End market rate is $497.73. Some parts of the city have no permit zone at all.