§ Calculator · Vehicle
Truck loan
What this is
Monthly payment + total interest on a truck loan in Canada.
Includes HST/PST on the sale (less trade-in value if you trade in a vehicle of the same type — provincial rules vary). Trade-in reduces both the taxable amount AND the financed amount.
- ·Down payment cuts the financed principal directly.
- ·Trade-in reduces the taxable base (in Ontario), then reduces principal.
- ·Longer terms = lower monthly but more total interest.
Out-the-door price
$73,450
Financed amount
$66,105
Monthly payment
$1,014
Total interest
$19,038
Cash at signing
$7,345
Total paid
$92,488
Most Canadian auto loans are simple-interest with monthly compounding. Boat + RV + truck loans sometimes have weekly compounding — check the contract.
Disclaimer
Educational, not financial advice. Output is generated by an AI assistant using simplified assumptions. Tax rates, contribution limits, and benefit amounts change annually; confirm with a CFP, CPA, or the relevant Canadian regulator (CRA, FSRA, OSC, IIROC) before acting.