Know Your Numbers Before You Go
Most people walk into a dealership without knowing what payment they can actually afford or what a fair rate looks like for their situation. This calculator gives you that clarity upfront.
It also works in reverse. If you know the payment you want to hit, enter it and the calculator will show you the maximum vehicle price that fits your budget at your rate and term.
Once you know your numbers, apply with Motofi and we will match your file to the lenders most likely to approve you at the best available rate.
Canadian Auto Financing Calculator
Fill in the fields below. Results update as you type.
Loan Payment Calculator
Enter your details to estimate your payments
$9,000 – $150,000
Rate & Term
60 months
Total Amount to Finance
$0.00
Tax included: $0.00
Based on 60 month term
Monthly Payment
$0.00
per month for 60 months
Total Interest
$0.00
Bi-Weekly Payment
$0.00
every two weeks · 26 payments per year
Total Interest
$0.00
Work Backwards from Your Budget
Enter a target payment to find the vehicle price that fits
This will update the vehicle price above while keeping your other values the same, showing what price range fits your target payment.
How to Use the Calculator
Eight fields, thirty seconds, and you will know exactly what to expect.
Vehicle Price
Enter the all-in price including any warranty, add-ons, and applicable fees.
Down Payment
The cash amount you plan to put down upfront. Leave blank if none.
Trade-In Value
What your current vehicle is worth as a trade. Leave blank if you are not trading in.
Existing Loan Balance
Any remaining balance on your current vehicle loan. Leave blank if none.
Sales Tax Rate
Enter your province's tax rate as a percentage. Ontario is 13%, Alberta is 5%, etc.
Expected Interest Rate
Your estimated rate based on your credit situation. Not sure? Apply with Motofi and we will tell you.
Loan Term
Choose a term between 2 and 8 years. The calculator shows both monthly and bi-weekly payments.
View Your Results
See your monthly payment, bi-weekly payment, total interest, and financed amount all at once.
Understanding Your Results
Here is what each number in the calculator output actually means.
Monthly Payment
Your fixed payment due once per month. 12 payments per year.
Bi-Weekly Payment
Your fixed payment due every two weeks. 26 payments per year, which means the equivalent of one extra monthly payment annually and less total interest paid.
Total Interest
The total amount of interest you will pay over the life of the loan. This is the real cost of borrowing beyond the vehicle price itself.
Loan Amount
The financed balance after your down payment, trade-in, existing loan, and applicable tax are all factored in.
Important Notes
This calculator is based on the information you provide and is for illustrative purposes only. Your actual payment may vary based on your lender, additional fees, and other factors. It should not be relied upon as specific financial advice.
Interest rates vary based on credit score, loan term, vehicle age, and current market conditions. Some loans may include additional fees such as origination or documentation fees that are not included in this calculation.
A maximum term may be set lower than 8 years by your lender depending on your financial situation and the age of the vehicle being financed.
Want to Understand the Numbers Better?
Our resources section breaks down how financing works, what affects your rate, and how to get the best deal for your situation.
Understanding Vehicle Financing
Learn how interest, principal, and amortization work so you know exactly what you are signing and how to pay less interest over time.
Read the guideFinancing Options
See how Motofi structures financing across all credit situations and what options are available for your specific circumstances.
See your optionsFrequently Asked Questions
Common questions about the Canadian auto loan calculator.
How do I calculate bi-weekly car payments in Canada?
Bi-weekly payments are made every two weeks, totalling 26 payments per year. This calculator shows both your monthly and bi-weekly payment side by side. Because you make the equivalent of one extra monthly payment per year, bi-weekly schedules typically reduce total interest paid over the life of the loan.
Does this include sales tax?
Yes. Enter your province's sales tax rate as a percentage and the calculator adds it to the vehicle price before computing your financed amount. For example, enter 13 for Ontario HST or 5 for Alberta GST.
How does a trade-in affect the amount financed?
Your trade-in value is subtracted from the vehicle price, reducing the amount you need to borrow. If you still owe money on your current vehicle, that existing loan balance is added back to the financed amount.
Is this an exact quote from a lender?
No. Results are estimates based on the inputs you provide. Your actual payment, rate, and terms depend on the lender, your credit profile, and other factors. Apply with Motofi to receive real rate offers from Canadian lenders.
Ready to See Your Actual Rate?
The calculator gives you an estimate. Apply with Motofi and we will send your file to 30+ Canadian lenders so they compete for your business. Takes 3 minutes. No obligation.