See What Your Vehicle Actually Costs
See what your deal actually costs, not just the monthly number the dealer wants you to focus on. Check what you can sustain with our Affordability Calculator, or compare dealer vs. bank financing. Enter your numbers below.
Enter Your Numbers
All fields in Canadian dollars. When trading in at a dealership, Ontario HST is applied to the difference between the vehicle price and your trade-in value.
Ontario Fees (optional) PPSA, licensing, admin
These fees are typically rolled into the financed amount by the dealer. Enter the amounts from your deal sheet. Leave at 0 if not applicable.
Your payment, broken down
Enter your deal details and hit Calculate to see total interest, the dealer-rate spread, and your real cost over the loan.
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Straight Answers
Standard amortization formula. Interest accrues on the outstanding balance. Each payment covers interest first, then principal. The formula accounts for compound interest over the full term.
A longer term means a lower monthly payment, but significantly more interest paid over the life of the loan. On a $40,000 vehicle at 6.49%, going from 60 to 84 months adds approximately $2,800 in total interest. The monthly payment drops, but the total cost of the vehicle rises. We recommend choosing the shortest term where the payment is comfortable.
Yes. When the Ontario HST toggle is on, the calculator applies 13% HST to the difference between the vehicle price and your trade-in value. This reflects how dealership transactions work in Ontario: you only pay HST on the net amount after the trade-in is applied. Your down payment is then deducted from the taxed total to determine the financed amount.
Because total interest is the real cost of financing. A $450/month payment sounds manageable until you realize you’re paying $11,200 in interest over 84 months. Dealers and banks focus on the monthly number because it makes expensive deals feel affordable. We show both because you should know both.
Want to Know If Your Deal Is Actually Fair?
A Holdback consultation covers more than the payment. We review your interest rate against market, analyze your F&I products, and evaluate the full deal structure. Check your equity position on your current loan or see how a car payment affects your mortgage qualification.
Questions? Email hello@holdback.ca
You only buy a car every four to six years. They sell one every day.
Want this deal reviewed before you sign?
A 45-minute Deal Review at $147 walks every line of your quote and identifies what is negotiable.