How much car can I afford on my income?

A common guideline is the 20/4/10 rule: put at least 20% down, finance for no more than 4 years, and keep total monthly vehicle costs (payment plus insurance) under 10% of your gross monthly income. This free calculator applies your chosen percentage to your income and works backward to the maximum car price and monthly payment you can comfortably afford.

Does the calculator include insurance?

Yes. It subtracts your estimated monthly insurance from your total vehicle budget before working out the loan payment, because lenders and the 10% rule treat insurance as part of the true cost of owning the car.

Is the car affordability calculator free?

Yes — 100% free. Everything is calculated privately in your browser; nothing is stored or sold.

Car Affordability Calculator

How much car can you afford on your income?

Your budget

Gross monthly income

% of income for car

Monthly insurance

The loan

Down payment

Trade-in value

APR %

Term (months)

Sales tax %

Max car price you can afford

—/mo

Car Affordability Calculator — guide & how to use

What it does

This car affordability calculator works backward from your income to the maximum car price and monthly payment you can comfortably afford. It applies your chosen share of income, subtracts insurance, then solves for the loan amount your remaining budget supports — and adds your down payment, trade-in, and sales tax to reach a sticker price. Free, private, in your browser.

How to use it

Enter your gross monthly income and the % of income you'll put toward the car (10–15% is typical).
Enter your estimated monthly insurance, down payment, and trade-in.
Set the APR, term, and sales tax, then read the max price and payment.

The 20/4/10 rule

A widely used guideline: put down at least 20%, finance for no more than 4 years (48 months), and keep total monthly vehicle cost — payment + insurance — under 10% of gross income. Lower the percentage for a more conservative budget.

The math behind it

Budget = income × your %. The loan payment available = budget − insurance. The financed amount the payment supports is F = pay·(1 − (1+r)⁻ⁿ) / r. The max sticker price = (financed + down + trade-in) ÷ (1 + tax rate), so sales tax stays inside your budget.

How to embed this tool on your website

No account, no coding. Copy the embed code and paste it where you want it to appear:

<iframe src="https://snaptoolsuite.com/car-affordability-calculator/?embed=1"
  style="width:100%;max-width:560px;height:980px;border:0;"
  title="Car Affordability Calculator" loading="lazy"></iframe>
<p>Free <a href="https://snaptoolsuite.com/car-affordability-calculator/">Car Affordability Calculator</a> by Snap Tool Suite</p>

2 Paste it on your page

3 It just works

See it live: view a real embed example →

Frequently asked questions

How much car can I afford?

A common rule keeps payment + insurance under 10% of gross monthly income, with 20% down and a 4-year loan. This tool turns that into a max price.

Does it include insurance?

Yes — insurance is subtracted from your budget before the payment is calculated, since it's part of the true cost of owning the car.

Is it really free?

Yes. 100% free, everything runs in your browser.

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🔒 Everything is calculated in your browser. We don't store or sell your data.