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Understanding Car Loans
How interest rates and loan terms affect your total cost.
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Payment Calculator
Enter the details below to estimate monthly and bi-weekly payments.
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Trade-in allowance and outstanding loan payout are separate. Taxes are estimated on vehicle price plus taxable fees; Alberta eligible dealer trade-ins receive estimated GST savings of 5% of the lesser of vehicle price and trade-in allowance. Other provinces: no automatic trade-in credit. Regular bi-weekly = 26 payments/year.
Your Estimated Payments
✓ Estimated payment includes applicable sales tax
$573 / month
$264 / bi-weekly
Amount Financed$30,000
Total Interest$4,380
Total Repayment$34,380
Total interest and repayment below use monthly payments; bi-weekly interest differs.
ⓘ Estimate only. Actual taxes, fees, lender terms, credit approval and payment timing can change your numbers. Trade-in tax treatment may vary by province and deal.
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Reverse Calculator
Choose a payment frequency, enter what you can afford, and estimate the vehicle price that fits.
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Net trade equity = allowance − existing loan payout. Negative equity reduces the affordable vehicle price. For Alberta, eligible trade-in GST savings use the trade-in allowance, not net equity. Other provinces: no automatic trade-in credit.
Estimated Vehicle Price Before Tax
✓ Estimated payment includes applicable sales tax
$36,800
Estimated Monthly Payment$600
Estimated Bi-weekly Payment$277
Selected FrequencyMonthly
Amount Financed$31,800
Total Interest$4,900
Total Repayment$36,000
Estimate only. Assumes a standard amortizing loan and applies the selected tax rate to the vehicle price. Eligible Alberta dealer trade-in GST savings are estimated; lender-specific terms are not included. Displayed repayment and interest use the selected payment frequency.
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Compare Two Deals
Enter two offers to see which one may cost less overall.
Deal A
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Deal B
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Compare total acquisition cost (all loan payments + down payment), not just loan repayment. Alberta eligible trade-ins: estimated GST savings applied; other provinces: no automatic trade-in credit. Fees are assumed taxable.
Comparison Results
✓ Payments include estimated applicable sales tax
| Cost | Deal A | Deal B | Difference |
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| Monthly Payment | $573 | $588 | — |
| Total Interest | $4,380 | $5,280 | — |
| Amount Financed | — | — | — |
| Total Acquisition Cost* | — | — | — |
| Total Repayment | $34,380 | $35,280 | — |
Run a comparison to see the estimated difference.
*Total acquisition cost = loan repayment + down payment. Excludes insurance, fuel, maintenance and any non-financed expenses. Compare like-for-like offers.
For a fair comparison, confirm both quotes include the same fees, add-ons, tax treatment, and loan assumptions.
Car Buying Guides
Understand the numbers before you sign.
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Trade-in Guide
Questions to ask and how to compare trade-in offers.
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Avoiding Negative Equity
What it means to owe more than your vehicle is worth.