skip navigation Menu PRINCIPAL PLANNING, INC. Phillip Q. Shrotman Car Affordability How Much Can You Afford to Pay for a Car? 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. How much do you want your monthly payment to be (in dollars)? 0 250 500 750 1k 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. 0 2.5k 5k 7.5k 10k Enter the annual percentage interest rate that is currently available from your lender. 0 2 4 6 8 10 12 Enter the number of months. For example, enter 60 months for a 5-year loan. 0 12 24 36 48 60 72 84 Previous Next Calculate 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. This material was written and prepared by Broadridge Advisor Solutions. © 2021 Broadridge Investor Communication Solutions, Inc. “Securities offered through BB Graham & Co. a Registered Broker/Dealer, member FINRA/SIPC. Principal Planning Service Inc. is not affiliated with BB Graham & Co.” Site Map Check the background of this financial professional on FINRA's BrokerCheck