How Much Car Can You Afford? | Practical Money Skills

 

How Much Car Can You Afford?

Before shopping for a car, it's important to know your price range. Committing to a car payment you can't afford can negatively affect your finances.


Currency
How much do you have saved for a down payment?

$

Trade-in value of your current vehicle

$

Vehicle rebates

$

How quickly do you want to pay off your car?
How much can you afford to pay monthly for a car?

$

What interest rate do you think you can obtain on a loan?

%

Sales tax where you live

%


Results

Paying %RESULT_PAYMENT% monthly for %RESULT_MONTHS% months, you should be able to afford a car that costs %RESULT_COST%.


Total cost of the car

Down payment + trade-in + rebates

Tax

Total loan amount

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