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.
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.
Common questions about this tool
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.
Calculate your monthly payment with amortization schedule and total interest.
Calculate monthly lease payment, money factor, and total lease cost.
Check your estimated auto loan rate and approval likelihood.
Get an instant estimate of your car's trade-in value.