Loans · Canada
Auto loan calculator.
Estimate your monthly car payment with sales tax, trade-in value, and down payment factored in. Compare term lengths to see how they affect interest and total cost.
Inputs
Your payment
Fill the form and press Calculate.
How the auto loan calculator works
This calculator estimates your monthly car payment by combining the vehicle price, sales tax, down payment, trade-in value, interest rate, and loan term. Understanding these costs upfront helps you budget better and negotiate confidently with dealerships.
Understanding auto loan costs
Amount financed: Vehicle price + sales tax − down payment − trade-in value. This is the actual amount borrowed from the lender.
Sales tax in Canada: PST/HST/GST rates vary by province:
- Ontario: 13% HST
- British Columbia: 12% (7% PST + 5% GST)
- Alberta: 5% GST only
- Quebec: 14.975% (9.975% QST + 5% GST)
- Nova Scotia, New Brunswick, PEI, Newfoundland: 15% HST
Sales tax is typically calculated on the purchase price after the trade-in value is deducted in most provinces.
Tips for the best auto loan
- Shop around: compare banks, credit unions, and dealership financing.
- Larger down payment: reduces the amount financed and total interest paid.
- Shorter terms: higher monthly payments but significantly less interest.
- Check your credit score: better scores qualify for lower rates.
- Get pre-approved: knowing your rate helps you negotiate.
Disclaimer
This calculator provides estimates for educational and informational purposes only. Actual auto loan payments may vary based on lender policies, credit score, vehicle type, additional fees, and other factors not included in this calculation. Provincial sales tax rules may vary, especially regarding trade-in deductions. Verify the exact calculation with your dealership or provincial authority.