Car Loan Calculator Ontario (2026)
Estimate the monthly payment on a car loan in Ontario, 13% sales tax included. A $35,000 car with $3,000 down over 60 months at 6.49% is about $715 a month.
Monthly payment
$715
Amount financed
$36,550
Cost of borrowing
$6,348
Sales tax (13%)
$4,550
Example: $35,000 vehicle, $3,000 down, 60 months at 6.49%, sales tax financed.
Calculate your own car loan
Vehicle Financing
See your monthly payment with tax and down payment included.
6.49% APR
Quick scenarios
1) Vehicle price and down payment
2) Term, rate, and tax setup
Financed amount
$36,550
Tax included: $4,550
Monthly payment
$715
Total interest: $6,348
Total paid over term: $42,898
Monthly car payment by price and term
Ontario, 13% sales tax financed, 6.49% rate, no down payment.
| Vehicle price | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| $15,000 | $519 | $402 | $332 | $285 | $252 |
| $20,000 | $693 | $536 | $442 | $380 | $335 |
| $25,000 | $866 | $670 | $553 | $475 | $419 |
| $30,000 | $1,039 | $804 | $663 | $570 | $503 |
| $35,000 | $1,212 | $938 | $774 | $665 | $587 |
| $40,000 | $1,385 | $1,072 | $884 | $760 | $671 |
| $50,000 | $1,731 | $1,340 | $1,105 | $949 | $839 |
| $60,000 | $2,078 | $1,608 | $1,326 | $1,139 | $1,006 |
Cost of borrowing by loan term
$35,000 vehicle in Ontario, $3,000 down, 6.49% rate. A longer term lowers the payment but adds interest.
| Term | Monthly payment | Cost of borrowing |
|---|---|---|
| 36 months | $1,120 | $3,772 |
| 48 months | $867 | $5,047 |
| 60 months | $715 | $6,348 |
| 72 months | $614 | $7,674 |
| 84 months | $543 | $9,026 |
How much car can you afford in Ontario?
A common rule keeps the loan payment near 10% of take-home pay, and under 15%, so insurance, fuel and repairs still fit. Car prices assume $3,000 down and 60 months at 6.49%, sales tax included.
Car loan payment in every province and territory
$35,000 vehicle, $3,000 down, 60 months at 6.49%. Only the sales tax changes.
| Province or territory | Sales tax | Monthly payment |
|---|---|---|
| Alberta | 5% | $660 |
| Northwest Territories | 5% | $660 |
| Nunavut | 5% | $660 |
| Yukon | 5% | $660 |
| Saskatchewan | 11% | $701 |
| British Columbia | 12% | $708 |
| Manitoba | 12% | $708 |
| Ontario (this page) | 13% | $715 |
| Nova Scotia | 14% | $722 |
| Quebec | 14.98% | $729 |
| New Brunswick | 15% | $729 |
| Newfoundland and Labrador | 15% | $729 |
| Prince Edward Island | 15% | $729 |
Keep planning
Frequently asked questions
- What is the monthly payment on a $35,000 car in Ontario?
- With 13% sales tax and $3,000 down, you finance about $36,550. Over 60 months at 6.49%, the payment is about $715 a month.
- What is the cost of borrowing on a car loan?
- The cost of borrowing is the total interest paid over the loan. Financing $36,550 for 60 months at 6.49% costs about $6,348 in interest; stretching the same loan to 84 months raises it to about $9,026.
- What car loan rate should I plan for in 2026?
- This calculator plans with 6.49% for new vehicles and 8.49% for used vehicles. On the example loan, the used-vehicle rate raises the payment from $715 to $750 a month. Dealer promotions can be lower, and loans for weaker credit much higher.
- How much car can I afford in Ontario?
- On a $60,000 salary in Ontario, take-home pay is about $3,945 a month. Keeping the payment near 10% ($395) points to a car around $20,500; at 15% ($592) it stretches to about $29,400, before insurance and fuel.
- Is sales tax included in a car loan in Ontario?
- Usually, yes: dealers add sales tax to the price and you can finance it. In Ontario, the rate used here is 13%, which adds $4,550 to a $35,000 vehicle. Private used-car sales can be taxed differently.
Planning estimate, not a lender quote. Rates are planning assumptions (6.49% new, 8.49% used); your rate depends on credit, lender, vehicle age and promotions. Sales tax is financed with the vehicle; trade-ins, dealer fees, rebates and private-sale tax rules are not included.