Price that fits a monthly budget
How Much Car Can I Afford?
Instead of guessing a sticker price, start with the monthly payment your budget allows. This works backwards through the APR and term to the price you can finance, then adds your down payment back on.
How this is calculated
- The monthly budget is turned into a loan balance with the standard present-value formula.
- Your down payment is added on top, because it reduces the amount financed rather than the price.
- The result excludes sales tax, registration and dealer fees — budget another 8-10% on top.
Before you go
What is a sensible payment ceiling?
A common rule of thumb is 10-15% of take-home pay for the car payment alone, insurance and fuel excluded. Lenders often approve more than that; the rule is about the rest of your budget, not theirs.
Should the down payment include a trade-in?
Yes. Enter the cash plus the trade-in value you expect, after any outstanding loan on the old car is paid off.
Why is the affordable price lower than I expected?
Because the sticker price has to absorb sales tax, registration and fees. A $30,000 car often finances closer to $32,000 once those are added.
Estimation only. Rates, taxes and fees in your actual offer will differ, and this tool is not financial advice or a loan quote.