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Vehicle Affordability Calculator

How much can I afford to spend on my next vehicle?

Before looking for cars, it’s a good idea to determine how much you are looking to spend a month on payments. You can use this calculator to enter the monthly payment you can make and can discover how much car you can afford.

Some things to consider while looking at the calculations: You can multiply your monthly net income by 15% to get the conservative estimate of your maximum monthly payment. There are other monthly expenses such as insurance, housing, food and other expenses that need to be considered when purchasing a car.

Loan Information
Vehicle Information

Car Affordability Calculator Key Terms

  1. Amount Owed on Trade-In
    This is where you can enter any values for if you still owe money from a previous loan on a vehicle that you are trading in.
  2. Desired Loan Payment
    The desired amount you would feel comfortable paying each month towards the car.
  3. Rebate
    Some manufacturers offer a cash rebate. The cash rebate paid by the car manufacturer would reduce the overall price of the car.
  4. Title & Registration Costs
    This is the estimated cost of the prices involved with getting the title and registering your vehicle.
  5. Trade-In Value
    This is the value you would expect to get if you are trading-in a vehicle to reduce the price of the car you’re purchasing.
  6. Vehicle Down Payment
    The total amount of cash paid at time of purchase. The larger the initial cash down payment, the smaller the monthly payments and overall loan amount is.

Our financial calculators are provided as a free service to our members. The information supplied by these calculators is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and are for illustrative purposes, and are not intended to provide investment advice. TDECU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. TDECU recommends you to find a qualified professional for advice with regard to your personal finance issues.