Car Affordability Calculator
Don't let the dealer start the conversation at the sticker price. Tell this tool what you can pay a month, add your down payment and trade-in, and it hands back the car price that keeps you comfortable.
How much car can you actually afford?
Start from a monthly payment you're comfortable with, not a sticker price. Add your down payment and trade-in, and you'll see the total car price that keeps you inside budget.
Car price you can afford
$27,780
Loan amount plus your down payment and trade-in
Amount you'd finance
$22,780
Total interest paid
$4,220
Total of payments
$27,000
What leaves your account over the full term
How it works out the number
The math runs an amortized loan in reverse. Your monthly budget and APR decide how big a loan those payments can carry over the term you pick. Add back the cash you're putting down and the value of your trade-in, and that sum is the car price you can reach.
Say you're good for $450 a month at 6.9% over 60 months. That payment supports a loan of about $22,700. Bring $3,000 in cash and a $2,000 trade-in, and you're shopping around $27,700 — not the $32,000 you might've talked yourself into.
Nudge the term or the APR and watch the top number move. It's the fastest way to see whether that slightly nicer trim is genuinely within reach or just wishful thinking.
Frequently asked questions
How does starting from a monthly payment help?
Most people can tell you what they can spend a month long before they know what car fits. Lock the payment first and the tool works backward to a price, so you shop with a real ceiling instead of falling for a number on a windshield.
Does the trade-in change what I can afford?
It does, and directly. Your trade-in and down payment both come off the top, so a $2,000 trade-in adds roughly $2,000 to the car price you can reach without touching the monthly payment at all.
Why does a longer term let me afford more car?
Stretching from 60 to 72 months spreads the loan over more payments, so the same monthly budget supports a bigger loan. The catch is more interest over time, so a pricier car this way can cost you more in the end.
Is this the total I can spend or just the loan?
The headline number is the full car price, loan plus your cash down plus the trade-in. The amount you'd actually finance is shown separately so you can see the split.
What about tax, title, and fees?
Those aren't baked in here, and they can add a few percent on top. Treat the result as your target vehicle price and leave a little room for the paperwork.
What monthly payment is reasonable?
A common rule of thumb keeps your total car costs under about 15% to 20% of take-home pay. On $4,000 a month after tax, that's roughly $600 to $800 for payment, insurance, and gas combined.