CAR LOAN CALCULATOR

Buying a car?

Calculate how much you can borrow and compare financing options.

Step 1 of 3

What's the total cost of the vehicle?

We use the vehicle's price, including taxes, to determine how much you may be able to borrow and your monthly payments.

Vehicle cost in dollars.

3,000
Total cost of vehicle slider. Minimum amount: $0. Maximum amount: $100,000.

Can't decide whether to buy new or used? By the time a car is 2 or 3 years old, the previous owner will have already absorbed most of the vehicle's depreciation value, which translates to a better deal for you.
Step 2 of 3

What can you contribute to your car purchase?

Make a down payment or trade in your used vehicle to help reduce the amount of money you need to borrow.

Down payment in dollars.

0
Down payment slider. Minimum amount: $0. Maximum amount: $3,000

Before you get approved for a loan, a lender will check your credit score to find out how dependable you are in repaying your debts. You can improve your score by paying your bills on time and making more than the minimum payment each month.

Do you want to trade in your vehicle? (optional)
Yes

No

Trade-in value in dollars.(optional)

0

Loan balance in dollars.(optional)

0
Step 3 of 3

What are your loan details?

The interest rate, term and dealer incentives help us calculate your monthly payments.

Interest rate as a percentage

Interest is the money you pay to your lender for using the funds you borrow.

Term

A loan term is the length of the contract with your lender. Terms range from 1 to 8 years. You can make weekly, biweekly, semi-monthly or monthly payments.

Incentives in dollars. (optional)

Car dealerships may offer factory cash rebates, discounts and special financing offers. Cash and dealer incentives help lower the price of the vehicle.

0

Do you want to compare car loans? (optional)
Yes

No

Interest rate as a percentage

Term

Incentives in dollars.(optional)

0

Want to pay off your loan sooner? Choose a shorter repayment term to help save money on interest.

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Vehicle information

Vehicle cost

3,000

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Contributions

Down payment

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Do you want to trade in your vehicle?

Yes

Loan details

Compare loans

CIBC car loan

Interest rate

Term

Incentives (optional)

Other loan

Remove

Interest rate

Term

Incentives (optional)

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My results¹

CIBC car loan	Other loan
Monthly payment	Monthly payment
$ ^*	$ ^*
Total interest	Total interest
$	$
Total amount of CIBC loan	Total amount of other loan
$	$
Term	Term
months	months

Edit calculations.

Edit contributions.

Edit trade-in information.

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* The calculations are for illustrative purposes only and the actual interest rate and payment amounts are subject to approval and based on a number of factors including credit check and age of vehicle. Other fees including administration fees may be charged by the dealer and are not included in the calculation.

Calculator results should not be relied upon as specific financial or other advice. Actual results and loan or line of credit payment amounts and repayment schedules may vary. Calculator assumes a constant rate of interest.

Advice and resources

Learn how to test drive a car

Get tips on what to look and listen for in your new car before making a purchase.

Should you buy a new or used car?

Find out if a new or used car makes sense for your budget and financial situation.

Save money on green vehicles

Enjoy special financing rates at CIBC-partnered dealerships when you finance an electric or hybrid vehicle.

Ready to apply or have more questions?

We’re here to help.

Visit a dealership

Ask for a CIBC car loan at your local dealership.

Apply for a car loan online

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Get in touch with us

We're here to answer your car loan questions.
Call us at 1-866-525-8622 Opens your phone app..

CAR LOAN CALCULATOR

What's the total cost of the vehicle?

Vehicle information

Contributions

Do you want to trade in your vehicle?

Loan details

CIBC car loan

Other loan

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Explore your lending options

Advice and resources

Ready to apply or have more questions?

Visit a dealership

Apply for a car loan online

Get in touch with us

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