Figuring Out Your Budget

While the best method to figure out your budget is to sit down and go thru your expenses, the Payment to Income Budget Calculator below will help you figure out how much payment you can afford based on your gross monthly income. The formula used is identical to the formula used by most banks. NOTE: The "ideal payment amount" calculated below includes ALL your car payments -- if you've co-signed with someone for a car, the full amount of that co-signed payment is subtracted from your ideal max by the bank. Because of this fact, couples should use their combined gross income to find the total of the car payments they can afford together, then subtract out one partner's vehicle to figure out the ideal payment range for the vehicle you're considering.


The Price Range Calculator takes your ideal payment and gives you a rough estimate of the asking price range of the vehicles you should look at to reach your ideal payment. Please bear in mind this is an estimate -- if you're looking at a very old vehicle (8yrs+), or anything over $60k, this estimate isn't terribly accurate.


As always, we suggest you get pre-qualified using our recommended online quote services.

Payment to Income Budget Calculator:

Your gross monthly income:
Monthly Payment Budget Information:
15% PTI
According to bank averages,
this is the maximum payment
you can afford.
10% PTI
Most banks agree this is the
ideal payment amount for your
income level.

Price Range Calculator:

Your desired monthly payment:
Your price range based on your ideal payment:
Low-end of the asking price range:
High-end of the asking price range:

As a next step, return to the main site or use our recommended online quote services to get multiple quotes.