Car loan calculator
Enter the vehicle price, down payment, trade-in value, sales tax, interest rate and term to estimate the monthly payment and total cost of vehicle financing.
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Estimate a vehicle payment including sales tax, a down payment and trade-in equity. Tax treatment varies by state and province.
Assumes tax is calculated after trade-in credit and financed with the balance. Rules differ by jurisdiction; confirm the figures on your contract.
How this calculation works
The amount financed is the price plus tax, less your down payment and trade-in. The payment then uses the standard amortizing-loan formula.
Longer terms lower the monthly payment but increase total interest and the time you may owe more than the vehicle is worth.
How to use the result
- Compare the total repaid across terms, not only the payment.
- If you still owe money on a trade-in, that negative equity is often added to the new loan — include it in the price to see the true effect.
- Dealer fees, extended warranties and insurance products are not included unless you add them to the price.
Compare related options
- Compare car loan options in Canada
- How auto financing is structured in Canada
- Car financing with bad credit in Canada
Sources and regulatory references
Related guides
How car financing works in Canada
A car loan bundles the vehicle price, interest, and often taxes and fees into one schedule. Here is how the pieces fit.
New vs. used car financing: what changes
Rates, terms and risk differ between new and used vehicle loans. Here is what to weigh before choosing either route.
Auto financing basics: price, term and total cost
Why the monthly payment is the wrong thing to negotiate, and how term length and depreciation interact.
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