Car Affordability Calculator
Find out what car you can really afford based on your income, monthly payment, and debt load.
It is recommended that total debt payments do not exceed this % of income.
How to Determine Your Car Buying Budget?
This calculator helps you set a realistic budget for a car purchase. It considers not only your desired monthly payment but also your debt-to-income (DTI) ratio—a key metric banks look at when approving a loan. It's recommended that your total monthly debt payments (including the future car loan) do not exceed 36-40% of your monthly income.
Calculation Formula
The maximum affordable loan is calculated based on an annuity payment, where the maximum monthly payment is limited by either your desire or the DTI threshold.