Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
|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.
Buy cars online and get them delivered straight to your doorstep with this car purchasing and financing platform.
Compare the features of 8 online car dealers in Canada, including inventory sizes, serviced provinces and trial periods.
Find out how to sell your car in BC privately or to a dealer.
Carvana is a popular online car-buying platform in the US, but it’s currently not available in Canada. Here are 5 Carvana equivalents in Canada.
Here’s a look at the 7 best sites to sell a car online in Canada to get the highest offer.
Need a no-hassle car loan with quick approval? Get in-house or standalone financing with Ontario dealer The Loan Arranger.
East Coast Financing is a dealer serving Atlantic Canada. Apply for a used car loan with good or bad credit, quick approval and no requirements for a down payment.
Browse fair credit car loans in Canada. Apply online and get pre-approved within minutes.
Shop with Ontario dealer 401 Auto and get in-house or private sale financing with good or bad credit.
Save money and time when you sell your car to a local dealer in Ontario with this hassle-free car-selling platform.
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.