Auto Payment Affordability Calculator

Calculate What You Can Afford

Income Information

Monthly Gross Income ($)

Other Monthly Income ($)

Monthly Expenses

Rent/Mortgage ($)

Utilities ($)

Insurance (Non-Auto) ($)

Other Monthly Expenses ($)

Auto Loan Details

Down Payment ($)

Loan Term (years)

Interest Rate (%)

Additional Auto Costs

Auto Insurance (monthly $)

Monthly Fuel Costs ($)

Monthly Maintenance ($)

Affordability Analysis

Maximum Car Price

Based on your budget

Monthly Payment Breakdown

Car Payment: $0

Auto Insurance: $0

Fuel Costs: $0

Maintenance: $0

Total Auto Costs: $0

Budget Analysis

Total Monthly Income: $0

Total Monthly Expenses: $0

Available for Auto: $0

Debt-to-Income Ratio: 0%

Affordability Status

Calculating...

Quick Examples

About Auto Payment Affordability

Understanding what you can afford before shopping for a car helps you make smart financial decisions. This calculator considers your income, expenses, and the total cost of car ownership to determine a realistic budget.

Affordability Guidelines:

20/4/10 Rule: 20% down, 4-year loan, 10% of income
Debt-to-Income Ratio: Keep total debt under 36% of income
Emergency Fund: Maintain 3-6 months of expenses
Total Auto Costs: Include payment, insurance, fuel, maintenance

Cost-Saving Tips:

Larger Down Payment: Reduces monthly payment and interest
Shorter Loan Terms: Lower total interest costs
Shop Around: Compare rates from multiple lenders
Consider Used Cars: Lower depreciation and insurance costs

Total Cost of Ownership:

Monthly Costs:

Car payment
Auto insurance
Fuel costs
Maintenance

Annual Costs:

Registration fees
Property taxes
Major repairs
Depreciation

Warning Signs of Overextension:

• Monthly auto costs exceed 15-20% of your gross income

• You're unable to save for emergencies or retirement

• You're using credit cards to cover basic expenses

• You have no money left for unexpected repairs