Your down payment and monthly payment amount are just the beginning of the costs involved in owning a car. Maintenance, insurance, fuel, and other ongoing expenses can take up a substantial amount of your overall transportation budget.
For many individuals, the price of car they can afford is a function of the amount
of the monthly payment. You can use this calculator to help determine how much you
can afford to pay for a car based on your monthly payment amount, down payment,
loan term, and available interest rate.
Based on the information you provided, you can afford to buy a car that costs:
$0.00
Total interest you would pay:
$0.00
Total cost of car:
$0.00
This chart illustrates the remaining loan balance over the life of the loan.
Car Loan Balance Over Time
This hypothetical example is intended for illustrative purposes only. Actual results
will vary based on the car you buy and the terms of your loan.
This hypothetical example is used for illustrative purposes only. Actual results will vary.
This information is not intended as tax, legal, investment, or retirement advice or recommendations, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek advice from an independent tax or legal professional. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
//0){ii++;i=i+(a*b/1200);a=Math.max(0,a+(a*b/1200)-k);e.push(a);f.push(ii);}n=p-i;E=e;F=f;I=i;N=p + i;P=p;';
var Validate = function () {
return true;
}
var Questions = [
new Question('How much do you want your monthly payment to be (in dollars)?', null, 'k', null, null, null, null, 1, {defaultvalue: 500, slidervalues:[0, 250, 500, 750, 1000]}),
new Question('How much do you plan to put down on the car (in dollars)? This amount does not include insurance or fees for license and registration.', null, 'o', null, null, null, null, 1, {defaultvalue: 3000, slidervalues:[0, 2500, 5000, 7500, 10000]}),
new Question('Enter the annual percentage interest rate that is currently available from your lender.', null, 'b', null, null, null, null, 1, {defaultvalue: 4, slidervalues:[0, 2, 4, 6, 8, 10, 12]}),
new Question('Enter the number of months. For example, enter 60 months for a 5-year loan.', null, 'c', null, null, null, null, 1, {defaultvalue: 60, slidervalues:[0, 12, 24, 36, 48, 60, 72, 84]})
];
var Answers = ['$P', '$I', '$N'];
var ChartTitle = '';
var ChartLabels = ['Months', 'Balance'];
var ChartData = ['F', 'E'];
hAxisTitle = 'Months';
vAxisFormat = '$##,###';
initCalc();
var dd = new Date();
$Gid('this_year').innerHTML = dd.getFullYear();
//]]>
Case Studies
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