What credit score do you need for a car?

It is usually the first question people ask before they apply: what credit score do I need? Equifax Canada says there is no “magic number”. Each lender sets its own criteria, and your score is one part of what they review. This guide covers how credit scores work in Canada, what lenders look at alongside the number, how to check your score for free, and what happens to your credit when you apply through a dealership.

Key takeaways

• Canadian credit scores usually range from 300 to 900. A higher score is better.

• Equifax Canada says lenders choose their own score bands. Each lender decides for itself.

• Equifax Canada says lenders generally see 660 and up as lower risk, and that a score is only one of several things they review.

• Checking your own credit report or score does not affect your score.

• Late payments stay on a Canadian credit report for up to 6 years. A consumer proposal can come off sooner.

Is there a minimum credit score for a car loan in Canada?

Equifax and TransUnion are Canada’s two main credit bureaus. Equifax Canada says lenders choose their own score bands, so every lender sets its own criteria. Equifax Canada says there is no “magic number” for better rates and terms, and that a credit score is “only one of several pieces of information” a lender will typically use.

That is why two people with the same score can get different answers from different lenders, and why the score alone does not decide an application.

What is a good credit score in Canada?

Credit scores in Canada usually range from 300 to 900. Equifax Canada gives these ranges as a general guideline:

• 760 to 900: excellent

• 725 to 759: very good

• 660 to 724: good

• 560 to 659: fair

• 300 to 559: poor

Equifax adds that lenders generally see scores of 660 and up as acceptable or lower-risk, and that scores below 660 may be less likely to qualify for the better loan terms.

FCAC notes that credit bureaus and lenders use different formulas to calculate your score, so the score you see may be different from the score a lender sees.

What affects your credit score?

The Financial Consumer Agency of Canada (FCAC) groups the factors into two sets.

Your credit history

• How long you have had credit, and how long each account has been on your report

• The types of credit you use

• Whether any debts went to a collection agency

• Whether you have filed for bankruptcy or insolvency

Your credit habits

• Whether you miss payments

• Whether you carry a balance on your cards, and how close you are to your limits

• How much debt you owe

• How often you apply for new credit

FCAC calls payment history “the most important part of your credit score” and suggests using less than 30 per cent of your total credit limit.

What do lenders look at besides your score?

Your score sums up your credit report. A car loan application also shows a lender your situation today. FCAC says lenders generally require proof of:

• Regular income

• A bank account

• A permanent address

FCAC adds that lenders will likely consider your debts as well. For a car loan, the vehicle you choose and any down payment or trade-in are part of the application too.

This is where the paperwork you bring matters. Our guide to the documents needed for car financing in Manitoba lists what to have ready.

How long do late payments, bankruptcy and proposals stay on your report?

FCAC publishes how long the two bureaus keep each type of record. For Manitoba these are the standard periods:

• Late or unpaid credit cards and loans: up to 6 years

• Credit inquiries by lenders: 3 years with Equifax, 6 years with TransUnion

• A first bankruptcy: usually 6 years after discharge

• More than one bankruptcy: 14 years

• A consumer proposal: 3 years after you pay off the debts in it, or 6 years after you sign it, whichever comes first

• A debt management plan: 2 years after you finish paying

A past bankruptcy or consumer proposal on your file does not stop you from applying. Each lender decides based on its own criteria. Our guide to bad credit car loans in Winnipeg explains how those applications work.

How do you check your credit score for free?

Checking your own credit report or score does not affect your score.

• Your credit report: free online from both Equifax and TransUnion, updated monthly. You can also ask for a copy by mail with two pieces of ID.

• Your credit score: Equifax provides it free in all provinces and territories. TransUnion’s free score is for Quebec and Ontario residents, so in Manitoba Equifax is the bureau that offers a free score.

Manitoba’s Personal Investigations Act gives you the right to see the information in your credit file. If something is wrong, you can file a protest, and information that cannot be verified must be removed. If you are not satisfied with the result, you can appeal to the Director of the Consumer Protection Office: 204-945-3800 in Winnipeg, or 1-800-782-0067 toll-free in Manitoba.

Does applying for a car loan affect your credit score?

When a lender checks your credit, the bureau records an inquiry, and how often you apply for new credit is one of the factors in your score. In Manitoba, in most cases, your consent must be obtained in advance before anyone runs that check.

Auto Approved does not pull your credit itself. The lenders reviewing your application may check your credit, and that check can add an inquiry to your file.

You can start with our financing application. It does not ask for your SIN.

Can a car loan help you build credit?

FCAC calls payment history the most important part of your credit score. When a lender reports your loan to the credit bureaus, your payments become part of your payment history. FCAC also notes that keeping accounts open and active over time may help your score. Not every lender reports to both bureaus, according to Equifax Canada, so you can ask your lender whether it reports to Equifax, TransUnion or both.

Frequently asked questions

What credit score do I need to buy a car in Winnipeg?

The same as anywhere in Canada. Lenders choose their own score bands and look at things like your income, debts and address alongside your score.

Can I get a car loan with a 550 credit score?

A 550 score is in the poor range on Equifax Canada’s scale. It does not stop you from applying. Whether a lender approves the loan depends on its own criteria and the rest of your application.

Can I get a car loan with a 600 credit score?

Yes, you can apply. A 600 score is in the fair range on Equifax Canada’s scale. Lenders choose their own score bands, so the answer depends on that lender’s criteria and the rest of your application.

Is 650 a good credit score in Canada?

By Equifax Canada’s general ranges, 650 sits just below the good range, which starts at 660.

Can I get a car loan with no credit history?

Yes, you can apply. Equifax Canada says a file without enough information may show no score or a zero, and that this is not a sign of bad credit. The lender will look at the rest of your application, such as income and employment.

Does checking my own credit score lower it?

No. FCAC confirms that checking your own report or score does not affect it.

Sources

Every figure in this article comes from the pages below, all checked on October 19, 2026.

• Financial Consumer Agency of Canada: Credit report and score basics

• Financial Consumer Agency of Canada: How long information stays on your credit report

• Financial Consumer Agency of Canada: Ordering your credit report and credit score

• Financial Consumer Agency of Canada: Improving your credit score

• Equifax Canada: What is a good credit score?

• Equifax Canada: What is a credit score?

• Equifax Canada: No credit score or zero credit score?

• Financial Consumer Agency of Canada: Personal loans

• Manitoba: The Personal Investigations Act, C.C.S.M. c. P34

• Manitoba Consumer Protection Office: Your personal credit record

This article is general information, not financial or legal advice. Credit bureau policies can change. Check with Equifax or TransUnion for current details.