Principal and interest
A payment includes repayment of principal and interest. Tax treatment does not generally turn the full payment into a business deduction.
Business-use percentage and records
Eligible vehicle costs may need allocation between business and personal use. A kilometre log and supporting receipts help establish that percentage.
Calculator boundary
The car-loan tool estimates financing. It does not calculate deductible interest, capital cost allowance, mixed-use allocation, GST/HST, or a T2125 claim.
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Official references