Estimate the maximum car price you can afford based on your income, down payment and loan terms.
Max monthly payment—USD
Max loan amount—USD
Max car price—USD
Ad Space — 300×250
About the Car Affordability Calculator
A common rule of thumb is to keep your car payment under about 10-15% of your gross monthly income. This calculator works backward from that limit to estimate an affordable loan amount and car price.
Formula: Max Monthly Payment = (Annual Income ÷ 12) × Max %, then solved for loan amount using the loan payment formula in reverse, plus your down payment.
Remember to also budget for insurance, fuel and maintenance, which add meaningfully to the true cost of car ownership beyond the loan payment itself.