How Much Car Can You Afford?

Based on your income, expenses, and the industry-standard 15% rule, find your maximum vehicle budget and ideal monthly payment.

💰 Your Budget

Monthly Take-Home Pay ($)

Monthly Expenses (excl. car) ($) Rent, utilities, food, subscriptions, etc.

Down Payment ($)

Trade-In Value ($)

Expected APR (%)

Loan Term (months)

Ownership Costs ▼

Insurance ($/mo)

Fuel / Charging ($/mo)

Maintenance ($/mo)

🚗 Your Affordability

🏷️ Maximum Vehicle Price

              You Can Afford
              $25,000
            

Conservative Budget $20,000

Stretch Budget $30,000

📋 Monthly Budget Breakdown

Max Car Payment (15% rule) $750.00

Insurance $150.00

Fuel $120.00

Maintenance $75.00

              Total Monthly Car Cost
              $1,095.00
            

% of Take-Home Pay 21.9%

Max Price

$25K

Payment

$750

Status

✅ Good

💡 The 15/20/4 Rule

Financial experts recommend: spend no more than 15% of take-home pay on car costs, put at least 20% down, and finance for no more than 4 years. Following this rule helps avoid being "car poor."

📈 Budget at Different Income Levels

Take-Home / Mo	15% Max Payment	Max Vehicle (60mo)	Conservative

Disclaimer: This calculator provides general estimates. Actual affordability depends on credit, insurance rates, and individual circumstances. The 15% rule is a guideline, not a hard limit.