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Car Affordability Calculator

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Find how much car you can afford from income, debt, and payment ratios.

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  • Private & secure
  • Instant results
  • On your device

How much car can I afford with a $700 monthly budget?

If $700 is total monthly auto cost including insurance, fuel, and maintenance—not just the loan payment—budget roughly $500–$550 for principal and interest. At 7% APR for 60 months that supports about $28,000–$32,000 financed depending on insurance and fuel assumptions. Stretching to 72 months lowers payment but increases total interest. Enter income, debts, and target payment for a personalized range.

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Use monthly income, existing debt, down payment, APR, and DTI limits to estimate your maximum monthly payment and affordable vehicle price.

How to use this tool

1. Enter monthly gross income and debt payments. 2. Set down payment ($ or % of vehicle price), APR, and term. 3. Optionally add insurance, fuel, maintenance, annual registration, sales tax %, and trade-in. 4. Adjust PTI (default 15%) and DTI (default 36%) if needed. 5. Calculate for max payment, loan, and sticker price.

Worked example

Example: $6,000/month income, $500 debts, $3,000 down, 6.5% APR, 60 months, plus $450/month ownership costs → loan payment room about $450 (after the 15% rule), with sales tax and trade-in adjusting the max vehicle price.

Common examples

  • $85,000 income, $650 target payment, 7% APR 60 mo → mid-$30k financed range.
  • Include $150/mo insurance in budget—not just loan payment.
  • 72-month term raises affordable price but adds interest versus 48-month cap.

How it works

Applies payment-to-income and debt-to-income limits to find your max monthly car budget, then subtracts optional ownership costs (insurance, fuel, maintenance, registration/12) to size the loan payment. Max vehicle price factors down payment, trade-in, and sales tax so the financed amount stays within that payment.

Limitations

Results are estimates for educational purposes and are not financial or tax advice. Actual costs, rates, and rules vary.

Privacy and file handling

Your data stays on your device and is not uploaded.

Related comparisons

Learn how formats and terms differ before you convert or calculate.

FAQ

Frequently asked questions

Is Car Affordability Calculator free?

Yes. It is free to use and you do not need to sign in or create an account.

Is my data private?

See the privacy note on this page. Many tools run on your device; some heavier file tools may use secure temporary processing when required.

Can I use Car Affordability Calculator on mobile?

Yes. Open this page on your phone or tablet, enter your inputs, and use the on-screen controls.

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