Automotive Calculators
Car Loan Affordability Calculator
Enter your monthly income, target percentage, interest rate, and loan term to calculate the maximum car loan you can afford.
Max monthly payment
$750.00
Max affordable loan
$38,794
10-15% of gross monthly income is a commonly cited guideline for a car payment — this doesn't include insurance, fuel, or maintenance, so budget for those separately.
How to use this tool
- 1Enter your gross monthly income.
- 2Enter the maximum percentage you want to spend on a car payment.
- 3Enter your expected interest rate and loan term.
- 4See your maximum affordable monthly payment and loan amount.
Frequently asked questions
What percentage of income should go to a car payment?+
10-15% of gross monthly income is a commonly cited guideline, though this doesn't include insurance, fuel, and maintenance, which you should budget for separately.