How much car can I afford?
Experts suggest that you shouldn't spend more than 20% of your take-home pay towards monthly auto payments. But keep in mind the other costs of ownership, such as insurance, fuel, and maintenance, while budgeting for a new car.
Car affordability calculator
Our calculator can help you figure out how much you should spend on a car based on your desired down payment, monthly payment, interest rate, and loan term.
This calculator is for illustrative and educational purposes only. Its accuracy and applicability to your circumstances is not guaranteed. You may wish to consult your own adviser regarding your particular circumstances.