🚗 AUTO & LOANS · UPDATED 2026

Car Loan Calculator Canada

Calculate your exact monthly payment, total interest, and true cost of your vehicle — including provincial sales tax and your trade-in value.

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The sticker price is just the beginning — know your true total cost

After adding provincial sales tax, dealer fees, and interest over the loan term, a $35,000 vehicle can easily cost you $45,000–$50,000 out of pocket. This calculator shows you the full picture before you sign anything.

🚗 Vehicle & Loan Details

🚘 Vehicle
$
Before tax, before trade-in
Provincial tax applied to vehicle price.
$
In most provinces, trade-in reduces the taxable amount
$
Cash paid upfront (separate from trade-in)
$
Dealer fees, freight, admin charges (typically $1,500–$2,500)
$
Auto-calculated from province · You can override
🏦 Financing
%
Dealer financing avg. ~8–12% · Bank/CU avg. ~6–9%
Longer terms = lower payments but more interest paid
Private sales have different tax rules in some provinces

Your Regular Payment
$0
per month
Bi-weekly
$0
Weekly
$0
Total Paid
$0
Loan Amount
$0
Amount financed
Total Interest
$0
Cost of borrowing
Sales Tax
$0
Provincial vehicle tax
Trade-In Savings
$0
Applied to purchase
True Total Cost
$0
Everything out of pocket
Interest % of Cost
0%
How much is just interest

📊 True Cost Breakdown

📈 Principal vs. Interest Over Time

⏱️ Loan Term Comparison

See how choosing a different term affects your payment and total interest paid.

📅 Amortization Schedule

Showing month-by-month breakdown. Year-end rows highlighted in red.

Month Payment Interest Principal Balance

💡 Car Loan Tips for Canadians

🏦 Get Pre-Approved First

Before visiting any dealership, get pre-approved by your bank or credit union. This gives you a rate to negotiate against and prevents the dealer from controlling your financing.

📉 Shorter Terms Save Thousands

A $35,000 loan at 7.99% costs $4,750 in interest over 48 months — but $7,950 over 84 months. The lower monthly payment on long terms costs you over $3,000 extra.

🔄 Trade-In Tax Benefit

In most Canadian provinces, your trade-in value reduces the taxable amount — not just the price. On a $10,000 trade-in in Ontario, that's $1,300 in HST savings.

⚠️ Watch the 84-Month Trap

84-month (7-year) loans are common in Canada but dangerous. Most cars depreciate faster than you pay down the loan, leaving you "underwater" — owing more than the car is worth.