Auto Loan Calculator
Calculate your auto loan payments based on vehicle price, down payment, interest rate, and loan term.
Your monthly payment
$667.79
Loan amount
$34,550.00
Total interest
$5,517.26
Total cost
$40,067.26
Cost Breakdown
About Auto Loans in Canada
In Canada, auto loans typically range from 12 to 96 months (1-8 years), with the most common terms being 60-72 months (5-6 years).
Interest rates for auto loans in Canada vary based on your credit score, the loan term, whether you're buying new or used, and the lender. New vehicles often qualify for lower interest rates than used vehicles.
Sales tax varies by province, with some provinces charging GST only (5%), while others charge HST (13-15%) or a combination of GST and PST/QST.
Many Canadian auto loans allow for prepayment without penalties, which can save you money on interest over the life of the loan.