Monthly payment
$629
Loan amount
$28,000

Car Loan Calculator

Calculate your auto loan payments with Canadian taxes and fees

Loan Details
$35,000
$0$100k

Total price before taxes

13.0

Select your province for tax calculation

$7,000(20%)

Higher down payment = lower monthly payment

Longer terms mean lower payments but more interest

6.9
0%25%
Monthly Payment
$629
$392(62%)
$161(26%)
$76(12%)
Total Cost Summary
Vehicle price$35,000
Total interest$9,660
Total taxes$4,550
Total cost$49,210

Browse Our Inventory

Find the perfect vehicle that fits your budget.

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Amortization preview

First 6 payments based on your configuration. Taxes are shown as a flat per-payment amount for clarity.

#PrincipalInterestTaxBalance
1$392$161$76$27,608
2$394$159$76$27,214
3$397$156$76$26,817
4$399$154$76$26,418
5$401$152$76$26,017
6$404$150$76$25,613
7$406$147$76$25,207
8$408$145$76$24,799
9$411$143$76$24,389
10$413$140$76$23,976
11$415$138$76$23,561
12$418$135$76$23,143

Financing fundamentals

How much can I afford?

A common rule of thumb is to keep your car payment under 10-15% of your take-home pay. Your comfort range depends on other monthly obligations and savings goals.

Lower your payment by choosing a longer term, increasing your down payment, or picking a lower-priced car. Longer terms mean paying more interest over time.

How does down payment affect my payment?

A larger down payment reduces the amount you finance, which lowers your periodic payment and total interest. Many buyers target 10-20% down; use the quick buttons to experiment.

Don't drain your emergency fund - leave room for insurance, maintenance, registration, and taxes.

What term should I choose?

Shorter terms (36-48 months) mean higher payments but less total interest. Longer terms (60-84 months) reduce the payment but increase the total cost.

Choose the shortest term that keeps your payment comfortable while meeting your savings goals.

Tips to get a better rate
  • Improve your credit utilization and pay bills on time for a few months before applying.
  • Compare rates from banks/credit unions and dealer financing.
  • Add a larger down payment or a qualified co-signer to lower risk.

Guided scenarios

Lower my payment
  • Increase down payment to 20-30% if possible.
  • Choose a longer term (72-84 months) but plan extra principal payments.
  • Pick bi-weekly payments to smooth cash flow with paycheques.
Pay it off faster
  • Shorter term (36-48 months) and weekly payments.
  • Round up payments or add small extra amounts toward principal.
  • Refinance later if your credit improves.
Minimize total cost
  • Target the lowest APR by rate-shopping and getting pre-approved.
  • Avoid extended terms unless necessary; interest compounds over time.
  • Consider a lower-priced vehicle to reduce both tax and interest.

FAQ

This tool provides estimates for planning purposes only and is not a financing offer.