Can I afford a new car?
A car costs far more than the monthly payment. This adds up insurance, fuel, and upkeep so you can see the real cost before you sign anything.
Quick answer: You can generally afford a new car when the payment, insurance, fuel, and maintenance together stay at or under about 15% of your take-home pay, roughly $600 a month on $4,000 take-home, with the loan payment itself near $400.
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The 15% guideline
A practical target is to keep all car costs, payment, insurance, fuel, and maintenance, at or under roughly 15% of your take-home pay, with the loan payment itself near 10%.
Above that, a car starts crowding out savings and makes a single bad month harder to absorb.
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Frequently asked questions
How much car can I really afford?
A common rule keeps total car costs at or below about 15% of take-home pay, with the payment alone near 10%. This calculator checks both.
Why include insurance, fuel, and maintenance?
Because the payment is only part of the cost. Insurance, gas, and repairs can add hundreds a month and are the most common way people overspend on a car.
Is this financial advice?
No. These are educational estimates based only on the numbers you enter, and not financial, legal, or professional advice.
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Financial disclaimer
This calculator provides general educational estimates only. It is not investment, tax, legal, or professional financial advice, and it does not account for every part of your situation. For decisions that matter, consider speaking with a qualified professional. Read our full financial disclaimer.