By getting these estimates through a car loan calculator, you can understand your overall costs for a car loan and better negotiate with loan providers for more favorable terms. However, remember that there are additional costs beyond just the interest rate.

How does the car loan calculator work?

Just pick your car loan amount, duration and credit rating. Our car loan calculator will provide you with a rough estimate of what your approval options could be. 

Once you apply with Approval Genie, you will receive a pre-approval tailored to your personal financial circumstances at the click of a button.

Calculating APR on a car loan

Car loan calculators often do not include state and local sales taxes or registration fees. Your APR combines interest rates and any fees or discounts from your lender. Other variables that might not be included in the car loan calculator are:

• Application fee: Some lenders charge a fee to submit a loan application.

• Origination fee: This is a fee charged by the lender for processing the loan, either a flat rate or a percentage of the loan amount.

• Payment-related fees: These include fees for late payments, returned checks, or specific payment methods.

• Prepayment penalty: Some lenders charge a fee if you pay off your car loan early to compensate for the interest they would lose.

• Discounts: Lenders may offer discounts, such as for setting up automatic payments, which are factored into your APR.

Why choose us?

• We work with all credit situations - good, bad, and no credit.
  
• Incredibly fast pre-approval process; you could apply and get pre-approved for your used car loan on the same day!
  
• Huge inventory of used cars for sale, and vehicles including trucks, vans, and SUVs.
  
• If you have bad credit and want to avoid a down payment on your used car, we also have zero down options for you.
  
• We have decades of experience helping people improve their credit with a used car loan.      

We’ve been helping Canadians find great cars and affordable auto loans since 2012!  

Apply for a car loan with Approval Genie

Use our car loan calculator to compare offers from different lenders and experiment with various interest rates and loan terms.

If you’d like to apply for a car loan, our online car loan application process is fast, simple, and secure. It only takes 30 seconds to apply, and we ensure that your personal information remains completely confidential. 

Once you apply for a car loan, one of our auto-finance advisors will reach out to you via phone or email to discuss your options.