The canadacar loan calculator can help you find out how much that new or used car will cost per month.  Also, you can specify a monthly payment you can afford, and the calculator will show you the price of the vehicle that the payment can buy.

For example, if you wanted to calculate the monthly payments on a $25,000 car with a 8.5% interest rate for 4 years (48 months) and a $1,000 down payment, you would enter 8.5 for the interest rate, 48 for the term, 1000 for the down payment (no $ or , please) and 25000 for the car cost. Then click the "Calculate Payment" button and the monthly payment will be written in it's window.

If, on the other hand, you knew you could only afford a $250 per month payment, instead of entering a car cost, enter 250 in the Monthly Payment box and click the "Calculate Loan Amount" button and the price of the car you afford with that monthly payment will be written in the Loan Amount window. 

Check out our financing page to find out the difference between financing and loans