Car Affordability Calculator
See a recommended maximum vehicle price and monthly payment based on your income, existing debt, and a healthy budget guideline.
Your Budget
Recommended Vehicle Price
$0
Including your down payment
Max Monthly Payment
$0
Max Loan Amount
$0
Lenders also look at your debt-to-income ratio — total monthly debt,
including the new car payment, typically shouldn't exceed 36-43% of gross income.
How Much Car Payment Fits Your Budget?
A common rule of thumb caps your total vehicle payment at 10–20% of gross monthly income, with a further check that total debt (including the car payment) stays under roughly 36–43% of income. This calculator applies the percentage you choose to your income, then works backward through your loan term and rate to estimate the vehicle price you can responsibly afford.
Beyond the Sticker Price
- Remember to budget for loan interest, which the amortization schedule breaks down payment by payment.
- Add estimated insurance premiums to your monthly transportation budget.
- Factor in fuel costs and routine maintenance.
- Check the sales tax calculator for your true out-the-door price.
Disclaimer: This calculator offers a general budgeting guideline, not personalized
financial advice or a loan pre-approval.