Online Calculators

How Much Car Can I Afford?

Car Affordability Calculator

monthly payment

Car Price You Can Afford:
$ 24,267.60
Down Payment:
- 2,000.00
Trade In Value:
- 1,500.00
Sales Tax:
+ 1,373.64
Car Loan Needed:
$ 19,393.96

Create an Amortization Schedule

Calculator Use

Use this calculator to find out how much car can you afford to buy.

This calculator will calculate the total price of the car you might consider purchasing based on how much you can afford for a monthly payment. And, factoring in down payment and trade-in, calculates the loan amount and loan schedule you will need to make up any difference. This calculator should give you a rough idea of your car price range.  Once you are ready, you'll need to get professional loan advice on your actual affordability.  Other factors include your credit rating and fees that you pay up front or roll into the loan.

Car Payments
The monthly amount you want or can afford to pay for a car loan
Car Sales Tax
How much tax will you be charged on this car price. Sales taxes by state
Down Payment
The amount of cash on hand you will be able to put toward this purchase and not borrow in the loan
Trade In Value
What will the dealer give you as cash value for any trade in vehicle you will be using in this transaction
Loan Term
How long will you take to pay back the loan in years or months?  What is the loan term?
Interest Rate
The annual stated rate of your loan.
Car Price You can Afford
This is likely the asking price of the car you can consider.
Car Loan Needed
Considering all of the factors you entered, this should be the actual loan amount you will need to apply for.

For a simple auto loan calculation use this car loan calculator. You can also create a table of payments if you want to investigate various loan options.


Cite this content, page or calculator as:

Furey, Edward "How Much Car Can I Afford?" at https://www.calculatorsoup.com/calculators/financial/how-much-car-can-i-afford.php from CalculatorSoup, https://www.calculatorsoup.com - Online Calculators

Last updated: October 30, 2023

Follow CalculatorSoup: