Car Affordability Calculator
Discover how much car you can truly afford, including ownership costs that many buyers overlook.
Calculator Mode
Unit System
Income & Budget
Your take-home pay each month
Affordable car budget
12% = $600/mo
Experts recommend 10-15% of income for total car costs
Loan Details
Cash you'll pay upfront
Value of your current car
Typically 8-12% depending on location
12 payments/year — standard schedule
Your Driving
Work from home, occasional errands & shopping
Annual Distance
10,000 km
Vehicle & Fuel
Fuel Efficiency
9.0 L/100km
Lower is better (less fuel used)
Ownership Costs
Brakes, battery, suspension items appear
Get quotes for accurate estimates
Home, work, or street parking costs
These are estimates based on averages. Actual costs vary by vehicle, location, and driving habits.
Maximum Car Price
$17,845
Moderate (12% of income)
Balanced approach to car affordability
Purchase Breakdown
Car Price
$17,845
Taxes & Fees (10%)
$1,785
Total Cost
$19,630
Down Payment + Trade-in
-$5,000
Loan Amount
$14,630
Total Interest Paid
$2,545
Interest paid over the life of the loan
Estimated Monthly Costs
Loan Payment
$286
Fuel (est.)
$109
Based on 833 km/month
Maintenance (est.)
$55
Based on car age and driving distance
Insurance
$150
Estimated Total Monthly Cost
$600
% of Income
12.0%
Not included in estimate:
Annual registration fees, safety/emissions inspections, seasonal tires, tolls, and unexpected repairs. Budget 10-15% extra for these costs.
Disclaimer: This calculator provides estimates for informational purposes only. Actual costs may vary based on your credit score, location, specific vehicle, driving habits, and market conditions. We recommend having at least this estimated amount available monthly. Consult with financial and insurance professionals before making purchase decisions.