Car Affordability Calculator
Find out how much car you can afford based on your monthly budget
Wondering what car payment fits your budget? This calculator uses your ideal monthly payment, down payment, and loan terms to estimate the maximum car price you can afford. A common rule of thumb is to keep your total car expenses (payment + insurance + fuel) under 15% of your monthly take-home pay.
Your Budget
Frequently Asked Questions
What percentage of income for car payment?
A common rule of thumb is 15% of monthly take-home pay. For a $50K salary that is about $625/month for payment + insurance + fuel.
Does larger down payment help?
Yes. A 20% down payment reduces loan amount, lowers payments, and helps avoid being upside-down on the loan.
What is a good APR?
For 2026: excellent credit 740+ gets 3-5%, good 680-739 gets 5-7%, fair gets 7-12%.
Should I consider insurance costs?
Absolutely. Insurance can add $100-200/month. Factor this in before shopping.