Car loan calculator
Work out your monthly payment with sales tax included. Canadian rates are pre-filled for each province; in the US, enter your combined state and local rate.
Tax defaults to the combined GST/HST/PST rate for a dealer purchase in each province (BC charges more on vehicles over $55,000; private sales can differ).
Estimated monthly payment
$556
- Sales tax
- $3,900
- Amount financed
- $31,700
- Total interest
- $8,307
- Total cost of the car
- $43,007
Estimate only. Your rate depends on credit, lender and vehicle age.
Sales tax on vehicles in Canada
Approximate combined rates on a dealer purchase. Confirm with your dealer or provincial ministry before you sign.
| Province / territory | Approx. tax |
|---|---|
| Alberta | 5% |
| British Columbia | 12% |
| Manitoba | 12% |
| New Brunswick | 15% |
| Newfoundland and Labrador | 15% |
| Nova Scotia | 14% |
| Northwest Territories | 5% |
| Nunavut | 5% |
| Ontario | 13% |
| Prince Edward Island | 15% |
| Quebec | 14.975% |
| Saskatchewan | 11% |
| Yukon | 5% |
How the payment is calculated
Tax is applied to the price minus your trade-in (as most provinces and many states allow), fees are added, then your down payment and trade-in are subtracted to get the amount financed. The monthly payment uses standard loan amortization: P × r ÷ (1 − (1 + r)−n), where r is the monthly interest rate and n the number of months.
Tips to lower your payment
- A larger down payment reduces both the payment and total interest.
- Shorter terms cost more per month but much less overall — and you build equity faster.
- Get pre-approved by your bank or credit union so you can compare against dealer financing.