Auto Loan Calculator (Canadian)

Use this calculator to help you determine your monthly car loan payment or your car purchase price. After you have entered your current information, use the graph options to see how different loan terms or down payments can impact your monthly payment. You can also examine your complete amortization schedule by clicking on the "View Report" button.

Your car payment is MONTHLY_PAYMENT PERIOD_LABEL_LOWER for a AUTO_SALE_PRICE car.

**GRAPH**

*GST + PST or HST was calculated as SALES_TAX_RATE times net of your vehicle price (AUTO_SALE_PRICE) minus your trade-in allowance (TRADE_ALLOWANCE).

**Your total down payment is calculated as your rebates and cash down payment of CASH_DOWN plus your trade-in allowance of TRADE_ALLOWANCE minus the AMOUNT_OWED_ON_TRADE balance outstanding on your trade-in vehicle.

***This assumes that you do not refinance and that all payments are made on time with no prepayments.

**GRAPH** **GRAPH**

Payment Schedule

**REPEATING GROUP**

Auto Loan Calculator (Canadian) Definitions

Payment
Payment for the frequency of this loan.
Total purchase price (before tax)
This is the total cost of your auto purchase. Include the cost of the vehicle, additional options and destination charges. Don't include GST + PST or HST in this amount. This tax will be calculated for you and included in your total after-tax price.
Number of payments
Number of weeks, months, etc. for this loan.
Interest rate
Annual interest rate for this loan.
Payment frequency
Choose how often payments will be made. The options are weekly (52 payments per year), bi-weekly (26 payments per year), and monthly (12 payments per year).
Rebates and cash down
Total amount of cash and/or factory rebates used in this purchase. The larger your cash down payment the smaller the loan you will need to finance this purchase.
Trade allowance
The total amount that you are given for any automobile that you trade-in as part of this purchase.
Amount owed on trade
Total loan balance still outstanding on the trade-in.
GST + PST or HST (%)
Tax percentage rate charged on this purchase in your province. GST + PST or HST is calculated on the purchase price less trade-in.


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