Car Loan Payment Calculator
Estimate your auto loan payment in Canada. Built for Ontario buyers — includes HST, trade-in value, down payment, and bi-weekly or monthly options.
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Important disclosure
The figures shown by this calculator are estimates for illustrative purposes only and do not constitute a loan offer or pre-approval. Actual interest rates, payment amounts, and approval terms vary based on a number of factors including, but not limited to: your credit profile and score, income and debt obligations, loan term and amount, lender criteria, and the vehicle's year, make, model, mileage, and condition. Taxes, licensing, registration, and optional products (such as extended warranties or GAP insurance) may also affect your final payment. All financing is subject to lender approval. For an accurate quote tailored to your situation, please submit a pre-approval application.
How car loan payments are calculated in Canada
Your monthly car payment depends on four things: the financed amount (vehicle price plus HST, minus down payment and trade-in), the annual interest rate, the loan term in months, and how often interest compounds. This calculator uses standard monthly amortization — the same formula Canadian banks and credit unions use.
Typical Canadian auto loan rates (2026)
- Excellent credit (750+): 5.99% – 6.99%
- Good credit (680–749): 7.99% – 8.99%
- Fair credit (620–679): 9.99% – 10.49%
- Bad / rebuilding credit (under 620): 10.99%+
Want a real rate based on your situation? Apply in 60 seconds — soft credit pull, no impact on your score.