Car Loan Calculator
Calculate the payment on your next vehicle with Quebec taxes (GST and QST), your trade-in, the down payment and fees. Compare terms from 36 to 96 months instantly.
- GST and QST included
- Trade-in value
- 36 to 96 months
- No data sent
Your payment
$652.78
per month
- Amount financed
- $37,241
- Total interest
- $9,759
- Total cost
- $47,000
- Paid off in
- 6 years
- Number of payments
- 72
- Taxes on the vehicle
- $5,241
- Minimum down payment
- $0
- Mortgage insurance premium (added to the loan)
- $0
- 9% tax on the premium (paid in cash)
- $0
- Balance at end of term
- $0
- Payment at the qualifying rate (stress test)
- $0.00
- Interest saved
Principal Interest
Yearly amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $5,040 | $2,794 | $32,202 |
| 2 | $5,457 | $2,376 | $26,744 |
| 3 | $5,910 | $1,924 | $20,834 |
| 4 | $6,400 | $1,434 | $14,435 |
| 5 | $6,930 | $903 | $7,504 |
| 6 | $7,504 | $329 | $0 |
Results are estimates. Your actual payment depends on your lender, your credit file and applicable fees. Calculations run in your browser: amounts are only sent to create the PDF or email it, and nothing is stored.
How to use the car loan calculator
- Enter the vehicle price. Check "price already includes taxes" if that is the case.
- Add your trade-in value and, if needed, the amount you still owe on it.
- Enter your down payment, the interest rate and the financing term.
- Compare payment frequencies and terms: the total cost updates with every change.
How the amount financed is calculated
Amount financed = vehicle price − trade-in value + taxes + amount owed on the trade-in + fees − down payment.
In Quebec, a vehicle bought from a dealer is taxed at 14.975% (GST 5% + QST 9.975%). The trade-in value is deducted from the price BEFORE taxes: a $10,000 trade-in saves $1,497.50 in taxes.
For a private sale, the QST is paid to the SAAQ when the registration is transferred instead, with no GST.
The payment follows the standard amortization formula: P = L × r ÷ (1 − (1 + r)^−n), where L is the amount borrowed, r the interest rate per period and n the number of payments.
Car loan: choosing the right term
- For $30,000 at 7.99%, the payment is $608.15 per month over 60 months and $467.44 over 84 months. Interest goes from $6,489 to $9,265.
- A term longer than the time you plan to keep the vehicle exposes you to negative equity: you owe more than its resale value.
- The amount owed on your trade-in is added to the new loan: the calculator includes it to avoid surprises.
- Plan for winter tires too: they are mandatory in Quebec from December 1 to March 15.
Does your vehicle need winter tires? Compare prices and get them installed in Laval. Shop tires →
Car loan payment by term
| Term | Monthly payment | Total interest | Total cost |
|---|---|---|---|
| 36 months | $939.95 | $3,838 | $33,838 |
| 48 months | $732.25 | $5,148 | $35,148 |
| 60 months | $608.15 | $6,489 | $36,489 |
| 72 months | $525.85 | $7,861 | $37,861 |
| 84 months | $467.44 | $9,265 | $39,265 |
Car loan FAQ
How are taxes on a vehicle calculated in Quebec?
From a dealer, the taxable price is the vehicle price minus your trade-in value. GST of 5% and QST of 9.975% apply, for 14.975%. In a private sale, only the QST applies, paid to the SAAQ.
Which car loan term should I choose?
The shortest term your budget allows. On $30,000 at 7.99%, going from 84 to 60 months saves $2,776 in interest, for a payment $140.71 higher per month.
What if I still owe money on my trade-in?
The dealer pays off the balance and adds it to your new loan. Enter it in "amount owed on the trade-in": the amount financed and the payment include it.
Monthly, bi-weekly or weekly?
The frequency often follows your pay. Regular bi-weekly payments cost about the same as monthly payments; only accelerated payments really reduce interest.
Can documentation fees be financed?
Yes, administration fees, registration or an extended warranty are often added to the loan. Enter them in the advanced options: they increase the amount financed and the interest.
Do I need winter tires with my vehicle?
In Quebec, winter tires are mandatory from December 1 to March 15 for all passenger vehicles. Include them in your budget if the vehicle does not have them.
Other calculators
Updated on · Liqui Pneus
