§ 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.