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Car Affordability Calculator to Calculate How Much Car You Can Afford

Calculator Preferences
Car Affordability Calculator

This calculator will calculate how much car you can afford based on the size of the monthly payment that you feel will be affordable. Includes optional adjustments for down payment, trade-in allowance, and sales tax, plus an optional monthly amortization schedule. The $ecret tab includes:

  • Are you bungee jumping with a cord that's too long?
  • How to REALLY know how much car you can afford.
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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Monthly pmt:Monthly payment:Monthly payment amount you can afford:Monthly payment amount you can afford:

Monthly payment amount you can afford:

Enter the monthly payment you feel you could afford after accounting for the ongoing ownership costs that will come with purchasing the vehicle (gas, insurance, maintenance, repairs, licensing, sheltering, etc.).

Down pmt:Down payment:Down payment amount you can afford:Down payment amount you can afford:

Down payment amount you can afford:

Enter the amount you feel you can pay down on the car purchase. If you have no money for a down payment, enter a zero.

Trade allow:Trade-in allow:Trade-in allowance:Trade-in allowance:

Trade-in allowance:

If you are trading in a vehicle, enter the trade-in allowance on this line. If no trade-in, enter a zero or leave blank.

Trade-in bal:Trade-in balance:Amount still owed on trade-in:Amount still owed on trade-in:

Amount still owed on trade-in:

If you are trading in a vehicle and still owe money on that vehicle, enter the amount you owe on this line. If no trade-in or no money is owed on the trade-in, leave blank or enter a zero.

Cash rebate:Cash rebate:Cash rebate to added to down payment:Cash rebate to be added to down payment:

Cash rebate to be added to down payment:

If the vehicle you are purchasing comes with a cash rebate, and you would like to apply the rebate to the purchase, enter the amount on this line. Otherwise leave blank.

Finance rate:Finance rate:Expected annual interest rate:Expected annual interest rate:

Expected annual interest rate:

Enter the annual interest percentage you will be charged for the loan, without the percent sign (for .08 or 8%, enter 8).

# payments:# of payments:Car loan term in months:Car loan term in months:

Car loan term in months:

Enter the term of the loan in number of months (number of payments).

1 year=12 months
2 years=24 months
3 years=36 months
4 years=48 months
5 years=60 months
6 years=72 months
Sales tax:Sales tax:Sales tax percentage:Sales tax percentage:

Sales tax percentage:

Enter the combined total of all applicable sales tax percentages (state, local, etc.). Enter as a percentage, but without the percent sign (for .07 or 7%, enter 7).

Schedule:Schedule:Include schedule:Include amortization schedule:

Include amortization schedule:

If you would like the results to include an amortization schedule, move the switch to the "Yes" position. Otherwise move the switch to the "No" position.

Net price:Net purchase price:Net purchase price of vehicle:Net purchase price of vehicle:

Net purchase price of vehicle:

This is the total of the loan amount you can afford, plus any entered down payment, net trade-in allowance, and rebate amounts, minus any applicable sales taxes.

Req loan amt:Required loan amt:Required loan amount:Loan amount you would need to qualify for:

Loan amount you would need to qualify for:

Based on the monthly payment you can afford, the annual interest rate, and the number of payments, this is the loan amount you would need to qualify for to purchase the vehicle price listed in the field above this one.

Interest:Interest cost:Interest cost of loan:Interest cost of loan:

Interest cost of loan:

This is how much interest you will end up paying between making your first and last monthly payments.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated


Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.



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Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.