CalculatorZoneHow to use the car payment calculator
Enter your affordable monthly payment, down payment, rate, term and sales tax.
How the car payment calculator works
The maximum loan is B × (1 − (1 + i)^−n) ÷ i, where B is your monthly budget, i the monthly rate and n the term in months. Add your down payment and remove sales tax to get the car price.
Frequently asked questions
How much should I spend on a car payment?
A common guideline is to keep total car costs under about 15% of your take-home pay.
Does insurance count?
Insurance and fuel are not included, so keep room in your budget for them.
Why does the term matter?
A longer term lets you afford a pricier car but costs more interest overall.