Car Affordability Calculator
Before you shop, set the ceiling. This works backward from your income — capping the payment at a sensible share of it — to estimate the car price, loan and payment you can comfortably carry.
Your numbers
Result
- Loan it supports
- $38,071.25
- Down payment
- $3,000.00
| Item | Value |
|---|---|
| Payment budget (15% of income) | $750.00 |
| Loan it supports | $38,071.25 |
| Down payment | $3,000.00 |
| Car price you can afford | $41,071.25 |
Start with the payment, not the car
A common guideline keeps car payments under about 10–15% of gross monthly income — some use the stricter 20/4/10 rule (20% down, a 4-year loan, and transportation costs under 10% of income). The calculator takes your chosen share as the affordable payment, then finds the largest loan it supports at your rate and term, and adds your down payment.
Longer terms are a trap
A 72- or 84-month loan lets you "afford" a pricier car on the same monthly payment, but you pay far more interest and stay underwater (owing more than the car is worth) for years. A shorter term is the honest test of what you can afford — if it only fits over 7 years, it is too much car.
The payment is not the whole cost
Owning a car also costs insurance, fuel, registration, maintenance and repairs — often as much again as the payment. Leave room for those in your budget, and remember that a cheaper car cuts insurance and depreciation too, not just the loan.
Informational and educational result. Not a substitute for professional advice.
Frequently asked questions
Sources
- Vehicle budgeting guidelines (20/4/10 rule)
Embed this calculator
Copy the code and paste it into your site or blog. Credit with a link back to Contania is included, and the height adjusts itself.
<iframe src="https://contania.app/embed/finance/car-affordability" title="Car Affordability Calculator — how much car can I afford?" width="100%" height="720" loading="lazy" style="border:1px solid #e5e0d8;border-radius:12px;max-width:640px"></iframe>
<script>window.addEventListener("message",function(e){if(e.data&&e.data.type==="contania:embed-height"){var f=document.querySelector('iframe[src="https://contania.app/embed/finance/car-affordability"]');if(f){f.style.height=e.data.height+"px"}}});</script>Related calculators
Auto Loan
Calculate your monthly car payment from the price, down payment, APR and loan term, and see how much interest you pay over the life of the loan.
CalculateFinanceHome Affordability
Find out how much house you can afford from your income, monthly debts and down payment, using the 28/36 rule lenders apply. See the maximum price, loan and payment.
CalculateFinanceBudget
Split your take-home pay into needs, wants and savings with the 50/30/20 rule. Enter your monthly income to see how much to put in each bucket.
CalculateFinanceCD
Calculate what a certificate of deposit (CD) is worth at maturity from the deposit, APY and term. See the interest earned and how the balance grows month by month.
CalculateFinanceCompound Interest
See how compound interest grows your money over time, with an optional monthly contribution. Compare what you put in against what the interest adds.
CalculateFinanceCredit Card Interest
See how long it takes to pay off a credit card balance and how much interest it costs, from the balance, the APR and your monthly payment.
Calculate