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.

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



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


Total loan amount