How much car can I afford?

Our car loan calculator will help you determine your monthly car payments and find a car loan that is right for you. Experts suggest that you should not allocate more than 20% of your take-home pay toward monthly auto payments. The down payment, interest rate, and term of your loan also will determine how much you can afford to spend on an automobile. Once you've decided what kind of car you can afford, compare auto insurance quotes on hundreds of vehicles.

Calculator definitions

Down payment
Enter the amount you are willing to put down towards your car purchase. The down payment can directly impact your monthly payments.

Desired monthly payment
Enter the amount you can afford to make on a monthly basis.

Annual interest rate
Enter an annual interest rate for your car loan. Lenders can give an estimate range for you to work with and the interest rate will vary depending on credit.

Term of loan (months)
Enter how the number of months you plan to carry the loan and make payments on your new vehicle.


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