Calculate Car Loan Repayments

Calculate your monthly car loan repayments and apply with Canadian lenders

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By

Emma Balmforth

Updated

Fact checked

Car loan monthly calculator

Calculate how much you could expect to pay each month
Your loan
Loan amount
$
Loan terms (in years)
Interest rate
%
Calculate

Fill out the form and click on “Calculate” to see your estimated monthly payment.

or

Compare car loans now
You can expect to pay back $ per month
Based on your loan terms
Principal $
Interest $
Total Cost $

How to use this car loan monthly payment calculator

  1. Enter the amount you want to borrow to buy a new car under Loan amount. This might not be the same as the cost of your car, since many lenders require a down payment.
  2. Write the amount of time you have to pay off your car loan under Loan terms (in years). If your loan term is in months, divide it by 12 first.
  3. Enter the interest rate you expect to pay on a car loan under Interest rate. If your car loan comes with fees, enter the annual percentage rate (APR) instead.
  4. Click Calculate.

In addition to your monthly payment, this 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.

Compare online car loan lenders

1 - 2 of 2
Product Finder Score APR Range Loan Amount Loan Term Requirements Broker Compliance
Finder score
9 Excellent
0% - 35%
$5,000 - $50,000
12-96 months
Requirements: Min. income of $1,800 /month, 3+ months employed
Loans Canada is a loan search platform. Get matched with a suitable dealer based on your credit history and borrowing requirements.
Go to siteMore info
Finder score
8.7 Great
From 8.99%
$7,500 - No max.
24 - 96 months
Requirements: 3+ months employed; maximum 1 bankruptcy; only available in Ontario, New Brunswick and Nova Scotia
Apply for financing with online dealer Clutch, who partners with some of Canada’s largest financial institutions to get you competitive interest rates.
Go to siteMore info
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Finder Score for car loans

To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 10+ car loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.

Read the full methodology

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Written by

Producer

Emma Balmforth is a producer at Finder. She is passionate about helping people make financial decisions that will benefit them now and in the future. She has written for a variety of publications including World Nomads, Trek Effect and Uncharted. Emma has a degree in Business and Psychology from the University of Waterloo. She enjoys backpacking, reading and taking long hikes and road trips with her adventurous dog. See full bio

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