Apply for Auto Financing
Compare rates from major Canadian lenders. Soft credit check only — no impact to your credit score.
Representative example: $35,000.00 financed at 6.29% APR over 96 months equals approximately $464.91/month. Cost of borrowing is approximately $9,631.18. Total amount payable is approximately $44,631.18. Rates and terms are subject to approved credit, selected vehicle, down payment, lender conditions, verified information, and applicable taxes/fees.
Start Your Pre-Qualification
Takes less than 5 minutes. No commitment required.
Important Financing Disclosure: Pre-qualification is not a credit approval, pre-approval, loan offer, or guarantee of financing. With your express consent, a soft credit inquiry may be used for pre-qualification and will not affect your credit score. If you proceed with a full finance application, lender review, or final approval process, a hard credit inquiry may be required and may affect your credit score. Final approval, rate, term, payment, down payment, and vehicle eligibility are subject to lender review, verified information, selected vehicle, applicable taxes and fees, and lender conditions.
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Complete Full ApplicationMulti-Lender Financing
We work with Canada's top financial institutions to get you the best rates.
Credit Union
6.29%
84 mo
Major Bank
6.99%
84 mo
Commercial Bank
7.49%
84 mo
Prime Lender
12.99%
84 mo
How Our Financing Works
Submit Your Info
Fill out a quick pre-qualification form with basic information.
Soft Credit Check
We perform a soft inquiry — no impact on your credit score.
Compare Offers
Review rates from our lending partners and choose the best option.
Car Loan Calculator
Estimate your monthly or bi-weekly payments, or find out how much vehicle you can afford. HST and trade-in tax credits included automatically.
Payment Estimator
Your Estimated Payment
$266/bi-weekly
For illustrative purposes only. All payment and affordability estimates are subject to credit approval (O.A.C.) and may vary based on individual creditworthiness, lender terms, and vehicle selection. HST (13%) is included in calculations. All advertised prices are OMVIC all-in prices and include all fees except HST and licensing. See our Vehicle Pricing Disclosure for details.
Disclaimer: For illustrative purposes only. Payment and affordability estimates are subject to approved credit and may vary based on credit profile, lender terms, selected vehicle, taxes, licensing, registration, and customer-selected optional products. Advertised vehicle prices include mandatory dealer fees except HST and licensing, unless otherwise clearly stated. Rates starting from 6.29% APR are available to qualified buyers. HST (13%) is included in all calculations. Planet Motors is an OMVIC-registered dealer. Please contact us or visit our Terms & Conditions for full financing details.
O.A.C. Example: $35,000 at 6.29% APR over 96 months = $465/mo. Cost of borrowing $9,631. Rates subject to credit approval.
Frequently Asked Questions
How is my car loan payment calculated?+
Payments are calculated using the standard amortization formula: the loan principal (vehicle price + HST − trade-in − down payment) is multiplied by the periodic interest rate and compounded over the number of payment periods. Our calculator supports both monthly and bi-weekly frequencies.
What is HST and how does it affect my car loan?+
HST (Harmonized Sales Tax) is 13% in Ontario. It is applied to the vehicle price minus your trade-in value. When you trade in a vehicle, you only pay HST on the price difference. this is called the trade-in tax credit. Our calculator includes HST automatically in every estimate.
What is a good car loan interest rate in Canada?+
In 2026, competitive rates for buyers with strong credit typically range from 6.29% to 8% APR. Rates depend on your credit score, the vehicle age, and the loan term. We compare rates from 10+ Canadian lenders to find you the best option.
Should I choose bi-weekly or monthly payments?+
Bi-weekly payments (every two weeks) result in 26 payments per year. equivalent to 13 monthly payments instead of 12. This accelerates your payoff and reduces total interest paid over the life of the loan.
How does trade-in value reduce my loan?+
Your trade-in value is subtracted from the vehicle price before HST is calculated. For example, a $10,000 trade-in on a $40,000 vehicle means you pay HST on $30,000 instead of $40,000. saving you $1,300 in tax alone.
Does using this calculator affect my credit score?+
No. This calculator runs entirely in your browser. no credit check is performed. When you are ready to apply for pre-qualification, we use a soft credit pull that does not impact your score.
How It Works
Submit Application
Fill out our simple online form with your basic information.
Credit Check
Soft credit pull - no impact on your credit score.
Compare Offers
Review rates from 10+ lenders side by side.
Choose & Shop
Select your best offer and start shopping with confidence.
O.A.C. Representative example: $35,000 financed at 6.29% APR over 96 months equals $465/month. Total cost of borrowing $9,631. Rates and terms subject to credit approval.