The car we want is not always the car we can afford. Use this calculator to enter the monthly payment you are able to make. You will then discover how much car you can afford.
How to calculate how much car you can afford?
- You can multiply your monthly net income by 15% to get the conservative estimate of your maximum monthly payment.
- Then you can multiply your monthly net icome by 20% to get the estimate of your maxmum monthly payment.
- Lastly, determine which amount fits into your monthly budget taking into account insurance, housing, food and other expenses.
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.