Auto loan calculator
Estimate your monthly car payment from the price, down payment, trade-in, tax, fees, rate and term in Canada. Canadian car-loan rates average about 8.5%. Free, instant, no signup.
Monthly payment
$541.53
How this estimate is calculated
The amount financed is the vehicle price plus tax and fees, minus your down payment and net trade-in (which can be negative). We amortize that at your rate over the term to get the monthly payment, total interest and all-in cost. The default rate reflects the Canadian average (Bank of Canada — interest rates & financial data).
See our full methodology for assumptions, limits and the 2026 data used.
Sources
- Bank of Canada — interest rates & financial data (as of 2026-02-28)
- Written by
- Colson — Founder & consumer-finance researcher, ColsonSuperApps LLC
- Verified
- Every figure checked against its cited primary source
- Last updated
- June 14, 2026
- Standards
- Editorial policy
These results are educational estimates based on the figures you enter and standard financial math, not financial advice or an offer of credit. Your actual rate, payment and terms depend on your credit, lender and other factors. Verify any number with the lender before you act.
Frequently asked questions
How does a trade-in lower my payment?
Its equity (value minus any loan balance) reduces the amount you finance. If you owe more than it's worth, that negative equity is added to the new loan instead.
Should I take a longer loan term for a lower payment?
A longer term lowers the monthly payment but raises total interest and the time you're underwater on the car. Compare the all-in cost across terms, not just the monthly figure.