Car Affordability Calculator

Your details

Type a payment directly, or let the 10% of take-home pay rule set it for you.
%
Your trade-in value minus any loan still owed on it (its equity).
Manufacturer rebates or dealer cash that come off the price.
Combined state and local sales tax on the vehicle. US average is around 5 to 9%.
%
Flat fees added to the deal: title, registration, documentation, and so on.
Currency
Car price you can afford (sticker)
$21,216
Out-the-door total (with tax and fees)$23,201
Loan amount financed$20,201
Monthly payment used$400
Sales tax included$1,485
Fees included$500
Total interest paid$3,799
Total of all payments$24,000
Down + trade-in as % of price14%

A 400/mo budget supports about a 21,216 car (sticker).

  • That sticker plus tax and fees is an out-the-door total of about 23,201, of which 3,000 comes from your down payment, trade-in and rebates.
  • You finance 20,201 and pay roughly 3,799 in interest over the 60-month term.
  • Insurance, fuel, and maintenance are on top of this; aim to keep total transportation costs under about 20% of take-home pay.

Next stepA larger down payment or trade-in, a shorter term, or a lower APR all stretch the same payment into a better deal overall.

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