KLOORACar Affordability Calculator
Find how much car you can afford with the 20/4/10 rule.
Quick answer: Car Affordability Calculator: Find how much car you can afford with the 20/4/10 rule. Everything runs in your browser, so nothing you enter is uploaded or stored.
How to use Car Affordability Calculator
- Enter your values in the fields.
- The results update instantly as you type.
- Note or copy the numbers you need.
Features
- Instant results
- Free, no signup
- Runs in your browser, nothing is uploaded
- Works on phone and desktop
How it works
Total budget = 10 percent of income. Subtract insurance and fuel to get the loan payment, convert it to a loan amount at your rate and term, and divide by 0.8 to include the 20 percent down payment.
Worked example
On 6,000 a month, the budget is 600. After 350 for insurance and fuel, about 250 remains for the payment, which supports a car of roughly 13,000.
Frequently asked questions
What is the 20/4/10 rule?
Put 20 percent down, finance for no more than 4 years, and keep total car costs under 10 percent of gross income.
What counts in car costs?
Loan payment, insurance, fuel and maintenance.
Is the Car Affordability Calculator free?
Yes. It is free, needs no signup and works on any device.