Desjardins Auto Loan Review (2024)

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Alexandre Desoutter updated on 6 February 2023

An auto loan is a great way to finance an upgrade to your car or to branch out into buying an RV or recreational vehicle. With living costs at an all-time high, not everyone has the cash available to buy a car all in one go. Car loans allow you to pay off a vehicle monthly, making sure that you keep repayments within your household budget. But with so many lenders offering different packages, how do you go about choosing the right one?

This review will take you through what car loans Desjardins has to offer, what their terms are and how to go about getting a loan today.

Good to know

Desjardins: the basics

  • Founded in 1900
  • 53,000+ employees
  • More than 7 million clients
  • Headquartered in Levis
  • 215 offices across Canada

Our Desjardins car loan review

Desjardins is the biggest federation of credit unions in Canada. It offers traditional, no-nonsense car loans with fixed or variable rates. While it may not offer the variety of options proposed by some of its younger competitors, Desjardins' loans are available at most dealerships and you can get them on the spot as you buy your car or recreation vehicle. Desjardins offers longer repayment terms than many of its competitors however some Desjardins car loan reviews have criticized the way that repayments are taken automatically out of your bank account. On the other hand, Desjardins does not have any penalties for early repayments which means that you are not financially penalized for trying to end your loan sooner than the agreed term.


  • Buy a new or used vehicle
  • Minimum loan amount of $5,000
  • loan amount up to 100% of the cost of your purchase
  • Get a competitive rate from the dealer
  • Available on the spot when you make your purchase
  • Approval in just a few minutes
  • Up to 240 months to pay it off
  • Pick a fixed or variable rate
  • Choose your terms – choose weekly, bi-weekly or monthly payments
  • Zero prepayment penalties
  • Eligible vehicles include cars, vans, sports utility vehicles, and minivans


  • Payments are withdrawn automatically from your account
  • The major loan programs are only available through dealerships

What types of car loans does Desjardins offer?

Desjardins offers a variety of loans to suit different needs and different vehicles. These include Desjardins Auto Loans, Leisure Vehicle Loans, Auto+ Loans and Accord D Financing. Let's take a look at how these compare and what they offer.

OffersDesjardins Auto LoansLeisure Vehicle LoansAuto+ LoansAccord D Financing
96 months240 months240 months120 months
Prepayment Penalties
Repayment Options
FixedFixed or variableFixed or variableFixed
Available for used cars
From dealersFrom dealersAt your caisseOnline
Car loan Desjardins

Desjardins also offers a Personal Line of Credit and a Versatile Line of Credit as alternative ways to borrow money to finance a car purchase. A line of credit is a type of revolving loan that does not let you borrow more than a certain amount. The Versatile Line of Credit is a HELOC, which means that it uses your house as collateral, making it a type of secured loan, allowing you access to better interest rates and repayment limits.

Good to know

Desjardins offers a 15% discount for a hybrid vehicle and a 20% discount for an electric vehicle.

Desjardins car loan rates

Desjardins offers both fixed and variable car loan interest rates. The rates Desjardins has to offer will depend on a variety of factors such as:

  1. What is your credit history?
  2. Are you offering a security?
  3. How long a term do you want?

You can expect a rate between 4% and 9% (on average). Shorter loans typically have lower interest rates, but more expensive monthly payments. Longer loans usually come with higher interest rates. While monthly payments are less, longer terms on loans end up costing more overall. Lines of credit only charge interest on the money that you actually spend.

Before deciding on a Desjardins car loan why not compare their car loan rates with those of other lenders?

Dreaming of a new ride?

Shop car loans now

Car loan calculator Desjardins

Desjardins does offer a car loan calculator on its website that can help you calculate the amount you can borrow and weigh up financing options.

But did you know that you could also get a quick analysis of your car loan payments with our car loan calculator which works for all auto loans, not just Desjardins' packages? Enter the sum that you are borrowing and then the amount that you wish to use as a downpayment. Then, you can adjust the term of the loan and the interest rate to determine how much monthly payments will be, as well as the total interest paid.

Can you get a Desjardins car loan deferral?

If you are unable to make a payment on your car loan you can talk to Desjardins about deferring repayments. Interest will continue to accumulate during the deferral period. Always make sure to check the terms and conditions of any contract before signing. You can begin the process by discussing deferring your payment plan by calling the Desjardins car loan contact number: 1-800-224-7737.

Watch out!

Your repayments could go up when a deferral ends.

A Desjardins Personal Line of Credit has flexible repayment options and term extensions. This could be a better option for you if you aren't sure about making repayments as it can prevent debt from getting out of control.

How do you apply for a Desjardins car loan?

Desjardins Auto Loans and Desjardins Leisure Vehicle Loans can both be obtained at licensed dealerships while you are buying a vehicle. That means you can get the loan on the spot while buying your car or RV.

You will need to go to a Desjardins caisse in order to take out an Auto+ Loan. You can find your local caisse by going onto the Desjardins website and clicking on the button marked Locations. Accord D Financing, Personal Lines of Credit and variable Lines of Credit can all be applied for online through the website.

Before signing a Desjardins car loan, compare rates! Our comparison tool offers quotes from dozens of lenders in just seconds. Find the best rate for you.

Dreaming of a new ride?

Shop car loans now

Can you refinance a Desjardins car loan?

You may be able to refinance your Desjardins auto loan. When a loan is refinanced, a new lender (or the lender you have already) buys the remaining debt. The new lender offers you a contract with more favourable terms. The terms could be an extension of the term of the loan or a decrease in the interest rate. Both changes would lower the monthly payments.

Refinancing is an interesting option if you have managed to improve your credit score since you borrowed the initial amount. This could lead to you getting lower monthly payments or a more favourable repayment schedule.

Can you get a Desjardins car loan with bad credit?

Desjardins could still offer you a loan even with a bad credit score. Desjardins will typically minimize its own risk by asking for shorter repayment terms, or by demanding a security (for example, asking you to put up your house as collateral) or it could ask for higher monthly repayments. You would still need to meet the following criteria, however:

  • You must not be under the age of majority for your province
  • You must not be a resident of another country
  • You must not have declared bankruptcy within the last 7 years

How to check a Desjardins car loan balance?

You can call the Desjardins car loan contact number directly at 1-800 224-7737. In the Montreal area, you can call 1-514-224-7737. Alternatively, you can use your Desjardins car loan login to open your AccèsD account, where you will be able to find your statements and balance.

You can talk face to face with a Desjardins representative at your local Desjardins caisse. To find your nearest caisse, go to the Desjardins website and hit the button marked Locations. This will bring up a search bar into which you can enter your address. Hit search and you will see a map of the Desjardins caisses that are most convenient for you along with their phone numbers.

How to pay off a Desjardins car loan?

Your repayments will be taken automatically out of your bank account either monthly or however often you have agreed in your loan contract. Desjardins does not charge any penalties for early payment. If you wish to make a prepayment, you can do this online through your AccèsD account.

  1. Login to your AccèsD account
  2. Hit the button marked Prepayment
  3. Make a payment using your bank card.
desjardin assecd
Desjardin AccesD login

Interested in a car loan that doesn't directly debit your bank account? Use our online comparison tool.

Dreaming of a new ride?

Shop car loans now
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Alexandre Desoutter

Alexandre Desoutter has been working as editor-in-chief and head of press relations at HelloSafe since June 2020. A graduate of Sciences Po Grenoble, he worked as a journalist for several years in French media, and continues to collaborate as a as a contributor to several publications.

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