Car Affordability Calculator
How Much Car Can I Afford?
The first step in shopping for a new vehicle is asking yourself, “what car can I afford?” Knowing the maximum purchase price of a vehicle you can afford will help narrow your options and make you feel more confident in your decision. Generally, financial experts advise spending no more than 20% of your take-home pay on a monthly car payment and expenses such as maintenance and fuel. Keep the 20% rule in mind as you consider auto financing.
Use our car affordability calculator by inputting your information to view the total cost of a vehicle you can afford. The tool also functions as an auto loan calculator, breaking down the cost by the down payment and loan amount for the vehicle. Once you’ve calculated the cost for a car in your budget, it’s time to secure an auto loan and shop for your new ride!