Car Affordability Calculator
How much car can you really afford? Enter your income, debts, and down payment to see a realistic maximum vehicle price, monthly payment, and total loan cost.
Credit cards, student loans, etc. — excluding the car you’re shopping for
Maximum Vehicle Price
$35,665
Based on 10% of gross income
Monthly Payment
$600
Loan Amount
$30,665
Total Interest
$5,335
Monthly Budget Breakdown
Income & Debts
Before taxes
Credit cards, student loans, etc. (excluding rent/mortgage)
Down Payment & Trade-in
Loan & Costs
What percentage of your gross income do you want to allocate to a car payment?
Estimated Maximum Vehicle Price (Moderate)
$25,936
$500.00/month at 20.0% DTI
Total Interest
$4,749
Loan Amount
$25,251
Down Payment Credit
$3,000
Conservative
8% of income — Leaves plenty of room in budget
Moderate
10-12% of income — Balanced approach
Aggressive
15% of income — Maximum most experts recommend
Your Target
12% of income — Your selected budget
Common Guidelines
A common guideline is to allocate 10–15% of gross income toward car payments. Total debt-to-income ratios below 36% are generally considered favorable by lenders.
Total cost of ownership—including insurance, fuel, and maintenance—typically adds an additional amount beyond the monthly payment.
Monthly Payment by Car Price
Bars are color-coded by estimated affordability level relative to income.
Price Comparison Table
| Car Price | Monthly Payment | Loan Amount | Total Interest | % of Income | Total DTI | Rating |
|---|---|---|---|---|---|---|
| $15,000 | $268.31 | $13,550 | $2,548 | 5.4% | 15.4% | Comfortable |
| $20,000 | $374.24 | $18,900 | $3,555 | 7.5% | 17.5% | Comfortable |
| $25,000 | $480.18 | $24,250 | $4,561 | 9.6% | 19.6% | Comfortable |
| $30,000 | $586.12 | $29,600 | $5,567 | 11.7% | 21.7% | Moderate |
| $35,000 | $692.05 | $34,950 | $6,573 | 13.8% | 23.8% | Moderate |
| $40,000 | $797.99 | $40,300 | $7,579 | 16.0% | 26.0% | Stretch |
| $45,000 | $903.92 | $45,650 | $8,585 | 18.1% | 28.1% | Stretch |
| $50,000 | $1,009.86 | $51,000 | $9,592 | 20.2% | 30.2% | Risky |
| $60,000 | $1,221.73 | $61,700 | $11,604 | 24.4% | 34.4% | Risky |
| $70,000 | $1,433.61 | $72,400 | $13,616 | 28.7% | 38.7% | Risky |
About This Analysis
This calculator provides estimates based on the inputs you supply. It assumes standard amortization and does not account for taxes, insurance, PMI, prepayment penalties, or the opportunity cost of funds. Results are for informational and educational purposes only and should not be considered financial advice. Consult a qualified professional before making financial decisions.
- ·Does not include insurance, fuel, or maintenance costs.
- ·Actual loan terms depend on credit score and lender.
- ·Sales tax and fee estimates may vary by state and dealer.
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Insights
4 calculators · 6 reference pages