What % of income should a car cost?

Most planners suggest keeping total car costs (loan + fuel + insurance + maintenance) under 15% of take-home pay.

Should I include depreciation?

This tool focuses on cash outflow. Depreciation isn't a monthly bill, but it's a real cost when you sell — buy used to soften it.

Leasing has lower monthly payments but you own nothing at the end. Buying with a loan costs more per month but builds equity.

Work out the realistic car price you can afford after running costs.

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Monthly take-home income% of income for car (incl. running)15% is a common ceiling.

Loan rate (%)Loan term (years)

Fuel / moInsurance / moMaintenance / mo

Max car price

$15,656

Total monthly car budget

$600

Running costs / mo

$290

Available for loan / mo

$310

Results are estimates for informational purposes only. Not financial advice.

See your true hourly and daily rate after tax

Monthly payment & full amortization

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Results are estimates for informational purposes only.