What goes into the amount financed for a truck loan

Price minus down payment and rebates, plus applicable sales tax, dealer/admin fees, optional warranties, and any negative equity from a trade-in.

Does trade-in value lower my payment

Positive trade-in equity reduces the amount financed. If you owe more than the trade-in value, the difference (negative equity) is added to your new loan.

How accurate is this truck loan calculator

It provides realistic estimates based on your inputs. Actual lender offers vary with credit, income, truck type and age, and market conditions.

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Truck Loan Calculator

Truck Loan Calculator

Q: How is a truck loan payment calculated

Truck payments are calculated using the amortization formula based on the amount financed, APR, and number of payments. This calculator supports monthly, bi-weekly, and weekly schedules.

Q: Is bi-weekly better than monthly

Bi-weekly payments can align with your pay cycle and may modestly reduce interest depending on lender setup. Weekly payments offer smaller, more frequent installments.

Looking to finance a heavy-duty truck, or commercial vehicle? Our free Truck Loan Calculator helps Canadian drivers and business owners instantly estimate payments based on truck type, price, down payment, APR, loan term, and trade-in value.

Whether you’re buying a new pickup, a semi-tractor, or a commercial work truck, this tool provides a clear breakdown of your monthly or bi-weekly costs, including taxes and fees. Use it to plan your budget, compare loan scenarios, and see how rebates or trade-ins affect your financing.

Truck Loan Calculator Canada

Use our free Truck Loan Calculator to estimate monthly payments for pickups and commercial trucks in Canada. Select a truck type to pre-fill realistic price and term ranges, enter your APR, down payment, trade‑in, taxes, and fees, and see your payment breakdown instantly.

Free Canadian Truck Loan Calculator

Choose your truck type

Tap a tile to pre‑fill typical price, term, and APR assumptions. You can edit any field below.

Your truck & financing details

Truck price

Down payment percent

Down payment amount

Percent and amount sync automatically.

APR annual percent

Loan term months

Payment frequency

Trade‑in value

What your current truck is worth.

Amount owing on trade‑in

Any outstanding loan. Negative equity is rolled into the new loan.

Manufacturer/dealer rebate

Sales tax percent

Enter your province’s combined tax rate (e.g., 13% HST in ON).

Fees total doc/admin

Optional warranty financed

Start truck loan application

Truck Payment Breakdown

Estimated payment

Per period

Per month equivalent

Amount financed

$0 Principal + interest

$0 Sales tax impact

$0 Fees/warranty

Monthly equivalent includes principal and interest only. Taxes/fees affect amount financed based on your inputs.

Truck Loan Summary & Total Cost

Summary

Price

Down payment

Trade equity applied

Taxes & fees financed

Amount financed

Total interest over term

Amortization Schedule (Truck Loans)

Show amortization schedule

Showing the first 12 periods by default. Expand to 60 or full schedule.

Period	Payment	Interest	Principal	Balance

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Get pre‑qualified in minutes and see financing you can actually get.

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How to Use the Truck Loan Calculator

Step‑by‑step

Select a truck type to pre‑fill common price, APR, and term assumptions for that vehicle class.
Enter your details price, down payment %, or amount both fields sync; add rebates, trade‑in value, and any loan still owing.
Set APR and term choose monthly, bi‑weekly, or weekly payments to match your cash flow.
Add taxes/fees input provincial sales tax, dealer fees, and optional warranty to see the true amount financed.
Review breakdown see per‑period payment, monthly equivalent, and an amortization schedule inside the collapsible panel.

This tool is for education and planning. Actual offers depend on credit, income, truck age/mileage, commercial use, and lender policies.

Truck Loan Basics in Canada

What drives your truck payment

Your payment depends on the amount financed price minus down payment, plus taxes/fees/warranty, adjusted for trade‑in equity; your APR; the loan term; and your payment frequency. Commercial use and heavy‑duty trucks can carry higher rates or shorter terms.

Typical truck terms

Light‑duty pickups — 60–84 months common
Heavy‑duty or diesel — often 60–72 months
Commercial box/semi/dump — may cap at 48–72 months

Ways to lower your payment

Increase down payment or apply trade‑in equity
Extend term within lender limits (more interest overall)
Shop multiple lenders and consider manufacturer promos

See your best truck financing options

Smarter Loans connects you with trusted lenders across Canada.

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Truck Loan FAQs (Canada)

How is a truck loan payment calculated

The payment uses the standard amortization formula based on amount financed, APR, and number of payments. This calculator handles it for monthly, bi‑weekly, or weekly schedules.

What counts toward the amount financed

Vehicle price minus down payment and rebates, plus applicable taxes, dealer/admin fees, optional warranties or add‑ons, and any negative equity from a trade‑in.

Can I finance used commercial trucks

Yes, subject to lender age/mileage limits, inspections, and down payment requirements. Terms and APRs may differ from new trucks.

Does trade‑in value reduce my payment

Trade‑in equity reduces the amount financed. If you owe more than the trade is worth, the difference negative equity is added to your new loan.

What is a good APR for truck loans

Rates vary with credit, income, truck type, age, and market conditions. Use the calculator to compare scenarios and shop multiple lenders.

Is bi‑weekly better than monthly

Bi‑weekly can align with pay cycles and may reduce interest slightly depending on lender setup. Weekly provides smaller, more frequent payments.

Can I make extra payments

Many lenders allow lump sums or accelerated payments. Extra principal reduces total interest and shortens the term. Check your loan agreement for prepayment terms.

Are taxes financed or paid upfront

Both are possible. Many borrowers roll sales tax into the loan. Confirm with your dealer and lender.

What documents do I need for a commercial truck loan

Driver’s license, proof of income or business financials, proof of insurance, vehicle details, and possibly business registration and GST/HST number.

How accurate is this calculator

It provides realistic estimates based on your inputs. Actual offers vary by lender, credit, and vehicle details.