Car Loan Calculator

↻ Updated 2026

Enter the vehicle price, down payment, trade-in, your province and the loan rate and term to see your monthly payment, total interest, and the true cost of the car with provincial sales tax included.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Vehicle price

Down payment

Trade-in value

Reduces the taxable amount in most provinces

Province

Sales tax 13%

Loan interest rate

Loan term

5.0 years

Monthly payment

$751

for 60 months

Total interest

$7,135

at 7% rate

Total cost

$50,075

price + tax + interest

Loan balance over time60 mo · 7%

todaymonth 60

What you finance

Amount financed$37,940

Interest$7,135

Cost breakdown

Vehicle price$38,000

Sales tax (13%)+ $4,940

Down payment− $5,000

Trade-in− $0

Amount financed$37,940

Total interest+ $7,135

Total of payments$45,075

ASSUMPTIONS — Standard fixed-rate amortization with equal monthly payments. Provincial sales tax (13% HST) is applied to the price minus trade-in, as most provinces tax the net amount. Excludes registration, licensing, dealer and documentation fees. Data year 2026.

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Sources & rate references

·Standard auto-loan amortization

Rates, brackets and limits here are checked against primary sources. If a number still looks off, email support@realmoneyiq.com and we'll review and fix it.

RealMoneyIQ provides free educational calculators, not financial, tax, investment or legal advice. Results are estimates based on the assumptions you enter and publicly published rates; your actual outcome will differ. Always confirm decisions with a licensed professional who knows your full situation.