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.
Auto Loan Calculator (Canadian) Definitions
- 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.