Car Affordability Calculator
Find the car price you can afford
Frequently Asked Questions
The calculator reverse-amortizes your monthly payment budget into the largest loan that payment supports at your APR and term, then adds your down payment, trade-in equity, and any rebates to get your total out-the-door budget, then backs out sales tax and fees to find the sticker price you can afford.
A common budgeting guideline caps your car payment at 10% of monthly take-home (net) pay — some guidelines go up to 15-20% for buyers with little other debt. This calculator can set your payment automatically from this rule, or you can enter your own payment budget directly.
A longer term (72-84 months) lowers the monthly payment, supporting a larger loan for the same payment budget, but you pay much more in total interest and risk being underwater (owing more than the car is worth) for longer.
Insurance, fuel, and maintenance are on top of the loan payment — aim to keep total transportation costs (payment + insurance + gas + maintenance) under about 20% of take-home pay, not just the loan payment alone.