Auto loan affordability calculator
Turn a monthly budget into the car price you can finance.
Car price you can afford
$0
An estimate only. Runs entirely in your browser.
How to use this calculator
- Enter the monthly payment you are comfortable with.
- Add the rate, the term in months, and your down payment.
- Click Calculate to see the total price within reach.
The formula
It works backwards from the payment. The monthly budget tells you how big a loan you can support, and adding your down payment gives the price you can target.
A real example
With 450 dollars a month at 7.5 percent over 60 months and 3,000 down, you can target a specific sticker price. Increasing the down payment or stretching the term raises that number, but a longer term means more interest overall, so the cheaper-looking monthly payment can cost more in the end.
Common questions
Does this include tax, title, and fees?
No. Those add to the out-the-door cost. Leave some room in your budget for them and for insurance.
Is a longer term a good idea?
It lowers the monthly payment but increases total interest and the risk of owing more than the car is worth. Shorter terms cost less overall.