Use the 10-15% rule to calculate how much car you can afford based on your income, existing debts, and down payment. Get personalized recommendations for conservative, recommended, and aggressive budgets. No signup required.
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See conservative, recommended, and aggressive budgets.
Budget based on your gross monthly income.
Factor in existing debts and debt-to-income ratio.
Get a target price range for your next car.
See how much goes to payment, insurance, fuel.
Factor in down payment to adjust your budget.
Based on the 10-15% rule: your car payment should be 10-15% of your gross monthly income.
Before taxes and deductions
Credit cards, student loans, etc. (excluding rent/mortgage)
Your monthly car payment should stay between 10% and 15% of your gross monthly income.
Your car payment isn't your only automotive expense.
FAQ
A common guideline is that total monthly car costs (payment, insurance, fuel, maintenance) stay under 15–20% of your take-home pay. Our affordability calculator uses your income and expenses to suggest a budget.
Put at least 20% down, finance for no more than 4 years, and keep total monthly car costs at or below 10% of gross income. It’s a conservative rule to avoid overborrowing.
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