Car Loan Calculator Calculate my Payment Calculate what I can afford Frequency of Payment: Frequency Desired Payment: $ Interest rate: % Down payment: $ Trade-in value: $ Balance Owing on Trade: $ Term: Months Province:
How do I use the car loan calculator?
This car loan calculator can be used for a new or used car loan, and it also factors in car sales tax for your province. To use this calculator, enter your car purchase price, the loan term in either months or years, and the interest rate. You can optionally include a down payment and trade-in value which will be subtracted from the loan amount.
Is there a car loan calculator for Canada Drives?
This should not be relied upon as specific financial or other advice. This car loan calculator will help provide you with a rough estimate of what your approval options could be. Once you apply with Canada Drives ® you will receive a pre-approval tailored to your personal financial circumstances at the click of a button.
What is the interest rate for financing a car in Canada?
When buying/financing a used car in Canada you can expect the interest rates to range from 3.9% – 34.99%. On the other hand, if you were looking to buy a brand new car then the interest rates can start as low as 0% with select manufactures. The two most important finance number to look for is your interest rate and the loan term.