Auto Affordability Calculator - How Much Car Can I Afford?
Auto Affordability Calculator
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Calculation Results
Maximum Vehicle Price
Down Payment Required
Sales Tax Amount
Cash Due at Signing
Total Loan Amount
Total Loan Interest
Total Loan Payments
Total Cost of Ownership
Monthly Payment (P&I)
Loan Payoff Date
Auto Loan Amortization Table
| Month | Date | Payment | Principal | Interest | Remaining Balance |
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| Year | End Date | Payment | Principal | Interest | Remaining Balance |
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Payment Visualization
If My Monthly Car Budget Is $500, How Much Car Can I Afford?
That depends on your down payment, interest rate, loan term, as well as sales tax and fees. Let's say you put down $2,000, with a 5% APR, a 60-month loan term, 7% sales tax, and $1,000 in fees. With those numbers, the most expensive car you could afford would be priced at $25,695.97.
References
Government Resources:
- Consumer.gov - Buying a Car
- FTC.gov - Auto Financing Guidelines
- CFPB.gov - Auto Loan Information
- USA.gov - Car Buying Guide
Additional Resources:
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