Estimate your monthly car payment. Adjust the price, down payment and term to find what fits your budget. No credit impact to check your options.
Estimate what a used vehicle will cost you each month. Enter the vehicle price, your down payment, an estimated rate and the term, and the calculator returns the payment and the total cost of borrowing.
The payment is derived from the amount financed, the periodic interest rate and the number of payments. Amount financed is the vehicle price plus taxes and fees, less your down payment and any trade in equity. In Canada, provincial sales tax applies to the vehicle price, and on a trade in the tax is generally calculated on the difference rather than the full price.
Run the same vehicle at 60, 72 and 84 months. The monthly figure drops each time and the total interest rises each time. Pick the shortest term whose payment fits your budget with room to spare for insurance, fuel and maintenance.
Your actual rate is set by the lender after reviewing your application. Taxes, registration and any optional products will change the final figure.
Apply to see your real numbers or read how rates are determined.