How Much Car Can I Afford Calculator
Invert a car payment: start from your monthly budget, APR, and term, then layer down payment, trade-in, and optional sales tax to estimate max vehicle price. Click any i for detail.
Budget & loan terms
Monthly car payment budget ($)
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Payment budget
What you can comfortably pay each month for the auto loan (before insurance/fuel). |
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APR (%)
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APR
Expected auto loan annual percentage rate. |
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Term (months)
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Term
Loan length in months (e.g. 60 or 72). |
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Down payment ($)
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Down payment
Cash down toward the purchase. |
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Trade-in value ($)
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Trade-in
Net trade equity after payoff of any trade loan. Enter 0 if none. |
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Sales tax (% optional)
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Sales tax
State/local sales tax on the vehicle price. Enter 0 to ignore tax. |
How to use this calculator
- Enter your monthly payment budget, APR, and term.
- Add down payment and trade-in equity.
- Optionally set sales tax %.
- Read max financed amount and estimated vehicle price.
Results explained
The headline is the estimated maximum vehicle price after inverting PMT for amount financed and adding down + trade-in, net of sales tax when entered.
Quick reference: affordability invert
Payment → present value (amount financed), then back out price.
| Item | Detail |
|---|---|
| Amount financed (PV) | PMT × (1 − (1+r)−n) / r |
| Pre-tax price sketch | PV + down + trade-in |
| With sales tax | Price ≈ (PV + down + trade) / (1 + tax%) |
Compare lease vs buy on the lease vs buy car calculator, or refinance later with the auto loan refinance calculator.
How the estimate is built
Amount financed is the present value of your payment stream at monthly rate r = APR/12. Vehicle price ≈ (financed + down + trade-in) ÷ (1 + sales tax), assuming tax is on price and down/trade reduce cash due.
Example scenario
A $450/month budget at 6.5% for 60 months finances roughly the mid-twenties. With $3,000 down, $2,000 trade-in, and 7% tax, max sticker is a bit higher than the financed amount alone.
FAQ
Does this include insurance and maintenance?
No — budget those separately. This page only models the loan payment and purchase math.
What about dealer fees?
Doc fees, title, and registration are not included. Leave a cushion below the max.
Why invert PMT?
Dealers quote payment from price; affordability starts from what you can pay and solves for price.
0% APR?
Set APR to 0 — financed amount becomes payment × months.