|Loan terms (in years)|
orCompare car loans now
In addition to your monthly payment, this car loan calculator shows how much you’d pay on your loan’s principle amount and how much you’d pay overall in interest. The principle amount is the amount that you borrowed and should be equal to your loan amount. Total interest is the amount you would pay on top of the principle — the cost of having your loan.
It depends on why you used this calculator. If you wanted to know your car loan monthly payment based on an offer from a lender, you might want to pre-qualify with a few more lenders to find out if you can get a better deal.
If you’re trying to figure out how much you can afford to borrow, use the loan amount, term and interest rate as a guide for finding a car and a corresponding loan that you can afford. Some lenders require that you have a car picked out before you apply. Even if they don’t, it doesn’t hurt to visit a few dealerships to compare your options.
After you’ve found a car that you like, research lenders that are willing to finance the particular car you’re interested in buying — some have restrictions on models, makes and mileage if you’re getting a used car. You can get started by using our comparison table. Once you’ve found a lender you like, follow their specific directions for applying for an auto loan.
Using car loan payment calculator can help you understand what kind of car is in your budget. After all, your monthly payment is the immediate cost you’ll have to deal with on a regular basis. If you can’t afford the monthly payments on a loan for a particular car, then you probably can’t afford that car.
Keep in mind that you might only be able to get a loan worth 80% of your car’s value. This means that you might be required to pay the other 20% upfront. Paying some money upfront can actually be a good thing because your entire payment goes directly to reducing the principal amount owing on the car. Any part of the purchase price covered by the loan is subject to interest, which will eat away at the regular payments you make.
Annual customer service awards helps recognise car loan alternative and traditional lenders and loan search platforms on quality customer service based on the real-world experience of customers.
Compare car loans in Alberta and find competitive financing, including options for good and bad credit.
Browse fair credit car loans in Canada. Apply online and get pre-approved within minutes.
Browse car loans in BC for good and bad credit scores.
Compare 20 car loan options in Ontario to find the right financing for your next set of wheels.
Avoid sales traps and watch for hidden costs when shopping for a new ride.
Find out how to transfer a car loan to another person.
Learn how you can get a second lien title loan by putting your vehicle up as collateral – even if you still have outstanding car payments.
Find out the 7 ways to get out of a car loan, and how to avoid getting a bad car loan again.
Find out where you can get a private sale car loan and what you should know before you apply.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.