Interactive Tools

Car Affordability Calculator (20/3/8 Rule)

The 20/3/8 car-buying rule helps ensure you keep your finances on-track while financing a vehicle. Enter your gross income and interest rate below to see how much car you can afford.

Annual Gross Income

Interest Rate

Current Monthly Car Payments

Down Payment

20% down

3 years to pay off

8% of pre-tax income

Down Payment:

This is how much car you can afford without going broke!

Ok, now you know the ballpark number for how much car you can afford. Let’s go a little deeper! Grab our free Car Buying Checklist!

Why do we follow the 20/3/8 rule in the first place? Learn all about it on our comprehensive guide to the 20/3/8 Car-Buying Rule.

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The 20/3/8 car-buying rule helps ensure you keep your finances on-track while financing a vehicle. Enter your gross income and interest rate below to see how much car you can afford.