Use this calculator to compare the costs to lease or loan a vehicle over time.
This table shows you how much you could spend on a vehicle, over the course of several years, based on the information you input in the previous step.
Each column shows the total of the monthly loan or lease payments, over the course of a year, plus the estimated taxes and interest charges.
The "Lease" column shows the cost of two consecutive leases. The "Loan" column shows you the cost to possess a vehicle until the loan term is over and the vehicle has been paid for in full.
These figures do not include maintenance and repair costs. These should be considered as potential extra costs and they should be taken into account when making a decision about whether to enter into a vehicle lease or opt for a loan. For more information on leasing or loaning a vehicle, please visit the "Tips" tab in this tool.
This table shows you the cost to possess a vehicle until the loan term is over and the vehicle has been paid for in full. The costs include estimated taxes and interest charges. Costs for repairs and maintenance are not included in this table and should be considered as a possible extra cost.
This table shows the cost of two consecutive leases, plus the estimated taxes and interest charges. Costs for repairs and maintenance are not included in this table and should be considered as potential extra costs.
For more information, please visit the "Tips" tab.
Due on delivery
Total of Annual Expenses
Curious about how much money you can save once you finish paying off your vehicle loan? Use the Financial Consumer Agency of Canada’s Financial Goal Calculator to see how quickly your savings could grow if you continued to put away all — or even some — of your monthly payment. You may be surprised at how quickly your savings can accumulate!
You may also consider the benefits of making a contribution to a Registered Retirement Savings Plan (RRSP) or a Registered Education Savings Plan (RESP) with the money you have saved.
Check out some other useful Government of Canada interactive tools: