Car Affordability Calculator
How much car your income can handle, using the 15% rule.
Your numbers
How this calculator works
Dealerships will happily sell you more car than your budget can carry, stretching the term until the payment "fits." This car affordability calculator works backward from a sane budget instead: it caps your monthly car payment at 15% of take-home pay (the widely used affordability guideline), then converts that payment into the maximum vehicle price your down payment, trade-in, rate and term can support. The result is the most expensive car you should buy, not the most expensive loan you can get.
The 15% covers the payment only, remember insurance, fuel and maintenance sit on top, which is why many advisors push for 10% all-in. The down payment does heavy lifting: 20% down keeps you from going underwater (owing more than the car is worth) as it depreciates. And watch the term trap the calculator exposes: a 72- or 84-month loan raises the "affordable" price but piles on interest and years of negative equity. Shop with your max price in hand, negotiate the out-the-door price first, and let the financing be a separate conversation.