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EZ Auto Loan Calculator

Independent auto loan estimates for the United States. Not a bank or dealer offer.

From a monthly budget

How Much Car Can I Afford

If you already know what you can pay each month, this calculator works backward to a maximum vehicle price in US dollars. Enter that monthly payment, the APR you expect, the term in months, the down payment, and any trade-in. The result is the highest price a fixed auto loan payment can support on those terms. It is not an income test and not a lender approval.

What you can pay

Enter a dollar amount you can actually pay, not a percent of income.

Enter the annual percentage rate you expect on a U.S. auto loan.

Enter how many monthly payments you are willing to carry.

Enter cash you can put down, or 0.

Enter the net trade-in credit, or 0.

Enter a monthly payment, APR, and term. The down payment and trade-in can stay at 0. Then choose Estimate price.

How the maximum price is calculated

The Auto Loan Calculator starts from a price and finds a payment. This page does the reverse. It takes the monthly payment you can budget and finds the largest principal that a fixed amortizing loan can carry at the APR and term you enter. The vehicle price is that principal plus the down payment plus the trade-in.

At 0 percent APR, the financed amount is the monthly payment multiplied by the number of months. There is no interest in that case. At any other APR, the same payment supports a smaller principal because part of each installment is interest.

How much car can I afford based on income?

People often search that question. This calculator does not collect income, credit score, or other debts. It cannot apply a debt-to-income ratio. If you use a personal rule on take-home pay, convert that rule into a monthly dollar payment first, then enter the payment here.

Insurance, fuel, and maintenance still sit on top of the loan payment. A bank or credit union can also cap the loan below the price this page shows. Treat the result as a ceiling for shopping, not a promise that you will be approved for that amount.

A longer term raises the price and the interest

For the same monthly payment and APR, a longer term usually raises the maximum price. It also raises the interest if you keep the loan to maturity. Compare a 60-month term with a 72-month term on this page, then check the interest line. For a full interest breakdown on a chosen price, open the Auto Loan Interest Calculator.

Examples you can run on this page

  1. You can pay $450 a month at 7 percent APR for 60 months and have $3,000 down. The financed amount is $22,725.90. The estimated maximum vehicle price is $25,725.90. If that payment runs the full term, estimated interest is $4,274.10.
  2. A $325 payment at 5.9 percent APR for 48 months, with no cash down and a $2,000 trade-in, supports $13,865.66 financed. The estimated maximum price is $15,865.66.
  3. A $600 payment at 0 percent APR for 36 months, with $5,000 down, supports $21,600.00 financed. The estimated maximum price is $26,600.00. Interest over the term is $0.00.

Affordability questions

How much car can I afford?

Enter the monthly payment you can keep, plus APR, term, down payment, and trade-in. The calculator returns a maximum vehicle price in US dollars for a fixed auto loan on those terms.

How much car can I afford based on income?

This page does not use income. Turn any income rule you already use into a monthly payment, then enter that payment. A lender may still approve less.

Will sales tax reduce the car I can afford?

Yes, if tax and fees are financed or paid in cash. Those items are not inside the estimate. Leave a cushion, or add expected tax to the “price” you have in mind after you see the result.

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