How Much Car Can I Afford Calculator
On $4,500.00 net pay at 10% ($450.00 a month) for 48 months at 6.5% APR, you can buy a $22,146.58 car. Change your income, debt, or down payment below.
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What car price you can afford
Maximum Car Price
$22,146.58
Maximum Monthly Payment
$450.00
At $450.00 a month for 48 months at 6.5% APR, you can buy a $22,146.58 car ($23,975.37 out the door).
Your 10% take-home budget on $4,500.00 sets the $450.00 payment, below your $960.00 DTI cap on $6,000.00 gross (27.5% DTI).
Your $18,975.37 loan and $5,000.00 down (22.6% of price, 85.7% LTV) cover $1,328.79 in 6% tax and $500.00 in fees.
Over 48 months, the Total of Payments is $21,599.99, the Finance Charge is $2,624.62, and the Total Sale Price with your down payment is $26,599.99.
Your income, debt ceiling, and loan terms
- take-home cap = $4,500.00 × 10% = $450.00
- DTI cap = $6,000.00 × 36% − $1,200.00 = $960.00; P = $450.00
- r = 6.5% ÷ 12, n = 48; max loan L = $18,975.37
- payments = 47 × $450.00 + $449.99 = $21,599.99; finance charge = $21,599.99 − $18,975.37 = $2,624.62
- max car price = ($18,975.37 + $5,000.00 − $500.00) ÷ (1 + 6%) = $22,146.58
Maximum car price and total interest across loan terms
Remaining loan balance and cumulative interest by year
Maximum Car Price, Loan Amount, and Total Interest by Loan Term
| Loan Term | Max Car Price | Max Loan | Total Interest | Out-the-Door Price |
|---|---|---|---|---|
| 36 mo | $18,096.58 | $14,682.37 | $1,517.66 | $19,682.37 |
| 48 mo | $22,146.58 | $18,975.37 | $2,624.62 | $23,975.37 |
| 60 mo | $25,942.36 | $22,998.91 | $4,001.13 | $27,998.91 |
| 72 mo | $29,499.90 | $26,769.89 | $5,630.08 | $31,769.89 |
| 84 mo | $32,834.13 | $30,304.18 | $7,495.79 | $35,304.18 |
At $450.00 a month, a 36-month loan buys a $18,096.58 car ($1,517.66 interest), while 84 months buys $32,834.13 ($7,495.79 interest).
Yearly Amortization Schedule for Your Maximum Loan
| Year | Payments | Principal Paid | Interest Paid | Cumulative Interest | Ending Balance |
|---|---|---|---|---|---|
| Year 1 | $5,400.00 | $4,293.01 | $1,106.99 | $1,106.99 | $14,682.36 |
| Year 2 | $5,400.00 | $4,580.50 | $819.50 | $1,926.49 | $10,101.86 |
| Year 3 | $5,400.00 | $4,887.27 | $512.73 | $2,439.22 | $5,214.59 |
| Year 4 | $5,399.99 | $5,214.59 | $185.40 | $2,624.62 | $0.00 |
In Year 1, payments split into $4,293.01 principal and $1,106.99 interest; by Year 4, cumulative interest is $2,624.62 and the balance hits $0.00.
Affordability Across 24- to 84-Month Loan Terms
At $450.00 a month and 6.5% APR, going from 24 to 84 months shifts car price from $13,775.34 to $32,834.13 and interest from $698.13 to $7,495.79.
| Loan Term | Max Car Price | Max Loan | Total Interest | Down Share | LTV Ratio |
|---|---|---|---|---|---|
| 24 months | $13,775.34 | $10,101.86 | $698.13 | 36.3% | 73.3% |
| 36 months | $18,096.58 | $14,682.37 | $1,517.66 | 27.6% | 81.1% |
| 48 months (closest to your input) | $22,146.58 | $18,975.37 | $2,624.62 | 22.6% | 85.7% |
| 60 months | $25,942.36 | $22,998.91 | $4,001.13 | 19.3% | 88.7% |
| 66 months | $27,749.96 | $24,914.95 | $4,785.03 | 18% | 89.8% |
| 72 months | $29,499.90 | $26,769.89 | $5,630.08 | 16.9% | 90.7% |
| 78 months | $31,194.03 | $28,565.67 | $6,534.30 | 16% | 91.6% |
| 84 months | $32,834.13 | $30,304.18 | $7,495.79 | 15.2% | 92.3% |
Maximum Car Price and LTV Ratio by Down Payment
From $0.00 to $15,000.00 down on a $18,975.37 loan, car price moves from $17,429.59 (108.9% LTV) to $31,580.54 (60.1% LTV).
| Down Payment | Max Car Price | Sales Tax | Out-the-Door Price | Down Share | LTV Ratio |
|---|---|---|---|---|---|
| $0 | $17,429.59 | $1,045.78 | $18,975.37 | 0% | 108.9% |
| $2,500 | $19,788.08 | $1,187.29 | $21,475.37 | 12.6% | 95.9% |
| $5,000 (closest to your input) | $22,146.58 | $1,328.79 | $23,975.37 | 22.6% | 85.7% |
| $7,500 | $24,505.07 | $1,470.30 | $26,475.37 | 30.6% | 77.4% |
| $10,000 | $26,863.56 | $1,611.81 | $28,975.37 | 37.2% | 70.6% |
| $15,000 | $31,580.54 | $1,894.83 | $33,975.37 | 47.5% | 60.1% |
How car affordability and loan present value work
This tool works backward from your monthly budget to a car sticker price. In its Ask CFPB #751 answer, the Consumer Financial Protection Bureau (CFPB) warns against sizing a payment from list price alone. List price leaves out sales tax, title and dealer fees, loan interest, gas, insurance, and upkeep. We start with your pay and monthly debts, find your safe monthly payment, and turn that payment into a loan and car price.
First, we find two monthly payment caps and pick the smaller one. Your chosen budget guideline sets the first cap. In take-home mode, 10% of $4,500.00 net pay gives $450.00 a month. In 20/4/10 mode, 10% of $6,000.00 gross pay minus $300.00 for gas, insurance, and upkeep leaves $300.00 a month. Your debt-to-income (DTI) limit sets the second cap: on $6,000.00 gross pay at a 36% DTI limit minus $1,200.00 in other debts, $960.00 remains.
Second, we turn your monthly payment P into a loan amount L using the present-value formula in Regulation Z, 12 CFR Part 1026, Appendix J. With monthly rate r = APR ÷ 12 and n monthly payments, L = P × (1 − (1 + r)^−n) ÷ r. When APR is 0%, L is P × n. Adding your down payment D gives your out-the-door budget (L + D). We then subtract upfront fees F and divide by (1 + taxRate) to separate the car sticker price from sales tax.
How your affordability numbers map to a Truth in Lending disclosure
Before you sign a car loan contract, federal law (Regulation Z, 12 CFR 1026.18) requires a written Truth in Lending disclosure. In its Ask CFPB #787 answer, the CFPB notes, "The federal Truth-in-Lending Act (TILA) requires lenders and dealers to provide you with certain disclosures – before you sign your contract – that explain your auto loan’s costs and terms." Four outputs on this page match disclosures that 12 CFR 1026.18 requires. Regulation Z Appendix H Model Form H-1 (credit sale) is made to show them: Amount Financed, Finance Charge, Total of Payments, and Total Sale Price. The Annual Percentage Rate is the rate you enter.
Under 12 CFR 1026.18(b), the Amount Financed is the net credit you borrow. It equals the car price plus sales tax and financed fees, minus your down payment and net trade-in credit. On the default 48-month loan at 6.5% APR, your Maximum Loan Amount of $18,975.37 is the Amount Financed. Adding your $5,000.00 down payment gives a $23,975.37 Out-the-Door Price that covers the car, sales tax, and fees.
Under 12 CFR 1026.18(d), the Finance Charge is "the dollar amount the credit will cost you." Under 12 CFR 1026.18(h), the Total of Payments is "the amount you will have paid when you have made all scheduled payments." Under 12 CFR 1026.18(j), a dealer credit sale also shows the Total Sale Price, defined by 12 CFR 1026.18(j) as "the total price of your purchase on credit, including your downpayment of $ __": here $21,599.99 plus $5,000.00 down is $26,599.99.
Regulation Z 12 CFR 1026.17(c)(3) lets lenders treat all months as equal. Official Interpretation 17(c)(3)-1 notes that rounding monthly payments to whole cents can change the final payment by a few cents. On the default loan, the last payment is $449.99, one cent under the level payment. The Total of Payments is one cent under 48 level payments, and the Finance Charge and Total Sale Price follow from it (see the worked example). The payments step of the worked sheet shows that schedule. Check the full monthly schedule in the auto loan calculator.
Take-home pay vs. the 20/4/10 guideline and U.S. vehicle running costs
This page offers two budget guidelines. The first caps your loan payment at 10% to 15% of monthly take-home pay. The second is the 20/4/10 rule of thumb: put at least 20% down, borrow for at most 4 years (48 months), and keep all car costs within 10% of gross pay. Both are household rules of thumb, not federal lending laws under 12 CFR Part 1026. This page applies only the 10% leg of 20/4/10 to set your payment. It checks your down payment and term against the 20% and 4-year legs but does not enforce them. To check your net pay after taxes first, use the take-home pay calculator.
The 20/4/10 rule of thumb is stricter when running costs are included. Gas, insurance, and repairs come out of your 10% gross-pay cap before the loan payment is sized. Data from the 2025 Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics (USDL-26-1619, October 29, 2026) show why running costs matter. Average income before taxes was $110,847 and total spending was $81,905. Transportation was the second-largest household cost at $13,492 a year per consumer unit, or 16.5% of total spending ($13,318 in 2024).
In that $13,492 yearly total from the 2025 Consumer Expenditure Survey, the average consumer unit spent $5,023 on net car purchases ($5,337 in 2024). They spent $2,503 on gas and other fuels ($2,645 in 2024). Other vehicle expenses, a line the release does not break down, averaged $4,765 ($4,206 in 2024). The BLS release’s footnote c says BLS changed the publication source of a subcomponent of that line. That contributed to the significant 13.3% rise, so the jump is not a clean trend. The release also says the Census Bureau could not collect the survey in October and November 2025. It says BLS used "a weight adjustment approach to account for these missing 2025 data." Public and other transit was $1,199 ($1,131 in 2024). All of these are averages per consumer unit, across all consumer units rather than only those that own a car. They are not a benchmark for one car. Gasoline ($2,503) plus other vehicle expenses ($4,765) come to $7,268 a year, or about $606 a month, for the average consumer unit. Our $300 default for running costs is a placeholder; replace it with your own insurance, fuel, and upkeep. Price fuel, insurance, and upkeep for a model in the total cost of ownership calculator.
Debt-to-income caps, loan-to-value ratios, and loan term trade-offs
Even when a payment fits your budget guideline, lenders check your debt-to-income (DTI) ratio and loan-to-value (LTV) ratio. In its Ask CFPB #1791 answer, the CFPB defines DTI as "all your monthly debt payments divided by your gross monthly income." In that CFPB answer, $1,500 for a mortgage plus $100 for a car loan plus $400 for other debts equals $2,000 a month. On $6,000 gross monthly pay, $2,000 is a 33% DTI ratio. When your other debts leave less room under your DTI cap than your budget guideline allows, the DTI cap wins.
In its Ask CFPB #769 answer, the CFPB defines the loan-to-value ratio as "the amount of your loan divided by the vehicle’s actual cash value." A $20,000 loan on a $20,000 car is a 100% LTV ($20,000 ÷ $20,000 × 100 = 100%). Putting $5,000 down cuts the loan to $15,000 and drops the LTV to 75% ($15,000 ÷ $20,000 × 100 = 75%). If you put $0 down and roll $5,000 of old loan payoff onto a $20,000 car, the $25,000 loan is a 125% LTV ($25,000 ÷ $20,000 × 100 = 125%). If you owe more on your trade-in than it is worth, check the trade-in negative equity calculator.
Stretching a loan from 48 months to 60, 72, or 84 months lets the same monthly payment borrow more money. However, CFPB Ask #771 and Ask #2132 warn that longer loans raise total interest and raise the risk of owing more than the car is worth. In the Federal Reserve G.19 release for August 2026 (published October 7, 2026), bank new-car loans averaged 7.54% APR at 60 months and 7.17% at 72 months. The same two terms averaged 8.16% and 8.29% in 2024 and 7.65% and 7.80% in 2025. Finance-company new-car loans in Q2 2026 averaged a 6.3% rate, a 67-month term, and $41,705 financed. Compare loan lengths in the car loan term comparison calculator.
Video walkthrough
A 4-minute walkthrough of how a monthly payment becomes a car price: the take-home pay and debt-to-income caps, the 20/4/10 mode, what a longer loan costs, and the Regulation Z totals.
Read the transcript
The car you can afford
0:00 How much car can you afford?
0:02 On the page's default numbers, about $22,000, from a monthly payment of $450 over 48 months at 6.5% APR.
0:12 The page works backward.
0:14 That payment becomes a loan.
0:16 Add your down payment for the out-the-door price.
0:19 Then take out sales tax and fees to leave the car price.
Caps on the payment, the lower wins
0:23 Your monthly payment has caps, and the lower cap wins.
0:27 One is 10% of take-home pay, the pay after taxes: $450.
0:33 The other limits all debt payments to 36% of gross income, the pay before taxes.
0:39 After other debts, that cap is $960.
0:42 Here, the take-home cap is lower, so it sets the payment.
0:47 The 36% is only a default, and the CFPB notes that lenders' limits differ.
0:53 Now say your other debts rise.
0:55 The debt cap falls to $210, becomes the lower cap, and the car price drops to about $12,600.
The 20/4/10 mode and running costs
1:04 The page's other mode follows the 20/4/10 rule of thumb.
1:08 It and the 10% to 15% take-home guideline are household rules of thumb, not federal lending law.
1:16 In this mode, only its 10% leg sets the payment: that share of gross income, less running costs.
1:23 Here, the payment is lower, and the car price is about $16,200.
1:28 Its other legs do not change the payment.
1:31 They ask for at least 20% down and at most 48 months.
1:35 For comparison, the Bureau of Labor Statistics survey puts gasoline plus other vehicle expenses at about $606 a month.
1:44 That average counts every consumer unit, with or without a car, so it is no budget for one car.
1:50 The survey has caveats.
1:53 A federal funding lapse kept the Census Bureau from collecting data for part of the year, and BLS says it used a weight adjustment approach.
2:01 BLS also changed the source for part of the other vehicle line.
What a longer loan costs
2:06 Stretch the loan term, and the same monthly payment buys more car.
2:10 At 36 months, about $18,000.
2:14 At 84, about $33,000.
2:17 But the interest climbs, from about $1,500 to about $7,500.
2:23 The CFPB also says a longer loan puts you at risk of owing more than the car is worth for longer.
Regulation Z totals and the APR
2:31 The page shows the totals Regulation Z lists for a loan.
2:35 Payments are collected in whole cents, so the last may need adjusting.
2:39 Here, that is 47 level payments, then a last payment one cent smaller.
2:44 Together they make the Total of Payments.
2:47 Take away the loan, the amount financed, for the interest.
2:50 On this page, that is the finance charge, about $2,600.
2:55 Add your down payment for the Total Sale Price, about $26,600, not the car price.
3:02 The APR here is the rate you enter.
3:05 A lender's disclosed APR can be higher with mandatory fees.
3:10 The 6.5% default sits between the Federal Reserve's new-car averages: finance companies, 6.3% in the second quarter, and banks, about 7.2% to about 7.5% in August.
Limits to check yourself
3:25 The page leaves things out.
3:27 Insurance, fuel and upkeep enter as one running-cost number.
3:31 Your lender's real offer is not in it.
3:34 The page taxes the full car price, so if your state taxes less after a trade-in, check the auto loan calculator.
3:42 So remember: the lower cap sets the payment, a longer loan costs more interest, and budget rules are rules of thumb.
3:49 Try your own numbers at fastcalc.us.
Present-value and out-the-door car affordability formulas
rulePayment (take-home) = takeHome × (takeHomePct ÷ 100) rulePayment (20/4/10) = grossIncome × (grossPct ÷ 100) − otherCarCosts dtiPayment = grossIncome × (dtiLimit ÷ 100) − existingDebts maxPayment P = min(rulePayment, dtiPayment) maxLoan L = P × (1 − (1 + r)^−n) ÷ r where r = (APR ÷ 100) ÷ 12, n = term (or P × n if APR = 0) outTheDoorPrice = L + down maxPrice V = (L + down − fees) ÷ (1 + taxRate ÷ 100) salesTaxAmount = V × (taxRate ÷ 100) totalOfPayments = (n − 1) × P + final payment F (F clears the whole-cent balance, 12 CFR 1026.17(c)(3)) financeCharge = totalOfPayments − L totalSalePrice = totalOfPayments + down downShare (%) = (down ÷ V) × 100, ltvPercent (%) = (L ÷ V) × 100
Worked car affordability examples
Take the default inputs: $4,500.00 net monthly pay, 10% payment share, $6,000.00 gross pay, and $1,200.00 in other debts. The DTI cap is 36%, with $5,000.00 down, 6% sales tax, $500.00 in fees, and a 48-month loan at 6.5% APR. First, the 10% rule of thumb on take-home pay allows $4,500.00 × 0.10 = $450.00 a month. The 36% DTI cap allows ($6,000.00 × 0.36) − $1,200.00 = $2,160.00 − $1,200.00 = $960.00 a month. The smaller cap wins at P = $450.00 a month, putting total debt at $1,650.00 (27.5% of gross pay).
At 6.5% APR over 48 months, the present value of $450.00 a month is L = $18,975.37. Over 48 months, 47 payments of $450.00 and a last payment of $449.99 make a Total of Payments of $21,599.99. The Finance Charge is $2,624.62. Adding the $5,000.00 down payment gives a $23,975.37 Out-the-Door Price and a $26,599.99 Total Sale Price. Subtracting $500.00 in fees and dividing by the 6% tax factor gives a $22,146.58 Maximum Car Price and $1,328.79 in tax. Your $5,000.00 down payment is 22.6% of price, and the $18,975.37 loan is an 85.7% LTV ratio.
Now switch to the 20/4/10 guideline on the same $6,000.00 gross pay. Ten percent of $6,000.00 ($600.00) minus $300.00 for gas, insurance, and upkeep caps the loan payment at $300.00 a month. At 6.5% APR over 48 months, $300.00 a month supports a $12,650.25 loan ($1,749.74 interest). With $5,000.00 down, $500.00 fees, and 6% tax, the max car price is $16,179.48 (30.9% down share, 78.2% LTV). If other debts were $1,950.00 instead of $1,200.00, the 36% DTI cap would leave $210.00 a month. That caps the 48-month loan at $8,855.17 and the car price at $12,599.22.
Budget guidelines, TILA disclosures, and assumptions
- The 10% to 15% take-home guideline and the 20/4/10 rule of thumb are household budgeting rules of thumb, not federal law. The 36% DTI default is only a default you can change. CFPB Ask #1791 notes, "Different loan products and lenders will have different DTI limits." In 20/4/10 mode, only the 10% leg sets your payment; the 20% down and 4-year legs are checked, not enforced.
- Loan present value L uses the closed-end formula in Regulation Z, 12 CFR Part 1026, Appendix J. It compounds monthly at APR ÷ 12 with equal months under 12 CFR 1026.17(c)(3). The payments step of the worked sheet also shows the payments on a whole-cent lender schedule. Under Official Interpretation 17(c)(3)-1, the final payment is adjusted. The Total of Payments and Finance Charge come from that schedule.
- APR is treated as equal to the note interest rate. Under 12 CFR 1026.18(e) and CFPB Ask #787, the TILA APR is "the cost of your credit as a yearly rate" and can be higher than the note rate when mandatory lender fees apply.
- Sales tax is applied to the full car price V: out-the-door price = V × (1 + taxRate ÷ 100) + fees = maxLoan + down. In states with a trade-in tax credit, only the price minus the trade-in value is taxed. You can model net-of-trade-in tax in the auto loan calculator.
- The Down Payment & Trade-In field is cash down plus net positive trade-in equity. If you owe more on your trade-in than it is worth (negative equity, CFPB Ask #2045), rolling that payoff into the new loan lowers the car price you can afford.
- Rate benchmarks come from the Federal Reserve G.19 release for August 2026 (October 7, 2026). Spending data come from the 2025 Consumer Expenditure Survey (USDL-26-1619, October 29, 2026).
- The 6.5% default APR is a placeholder. It sits between the finance-company and commercial-bank new-car averages in the Federal Reserve G.19 release. Replace it with the APR on your own preapproval or quote.
What to do with your maximum car price
Get preapproved by a bank or credit union before visiting a dealer. CFPB Ask #755 notes that auto loan credit checks made within 14 to 45 days count as one inquiry on your credit report. Walking in with a preapproval gives you a firm APR and loan cap ($18,975.37 on the default $450.00 payment at 6.5% APR for 48 months). Once you get a quote, check the monthly schedule in the auto loan calculator.
Negotiate the out-the-door car price, not the monthly payment. CFPB Ask #2132 notes that a longer loan can reduce the monthly payment but costs more interest. Stretching the default payment from 48 to 72 months buys a $29,499.90 car, and 84 months buys $32,834.13, but adds thousands in interest. Compare term costs in the car loan term comparison calculator.
Aim for at least 20% down, or enough to cover your 6% sales tax and $500.00 in fees. That starts your loan-to-value ratio well below 100% (85.7% LTV on the default $22,146.58 car with $5,000.00 down). You can test how much cash down a target car needs in the car down payment calculator, or compare paying cash in the car loan vs. cash calculator.
Compare 0% APR deals against cash rebates and check any trade-in payoff on its own. At 0% APR for 48 months, the default payment raises your max car price by $2,476.06 over 6.5% APR. Weigh a low rate against a rebate in the rebate vs. low APR calculator, or check an existing loan in the car loan refinance calculator.
Car affordability and auto loan budgeting questions
What is the 20/4/10 rule of thumb for buying a car?
The 20/4/10 rule of thumb is a three-part budget guideline. Put at least 20% down, borrow for no more than 4 years (48 months), and keep all monthly car costs within 10% of gross monthly pay. On $6,000.00 gross pay with $300.00 in monthly gas, insurance, and upkeep, 10% leaves $300.00 a month for the loan. At 6.5% APR for 48 months with $5,000.00 down, 6% tax, and $500.00 fees, that buys a $16,179.48 car. This calculator applies only the 10% leg to set the payment; it reports the 20% down and 4-year legs as checks.
How much of my take-home pay should go toward a car payment?
The take-home pay guideline caps the loan payment alone at 10% to 15% of monthly take-home pay. On $4,500.00 net pay for 48 months at 6.5% APR with $5,000.00 down, 6% tax, and $500.00 fees, a 10% cap ($450.00 a month) buys a $22,146.58 car. Raising the cap to 15% ($675.00 a month) supports a $28,463.05 loan and a $31,097.22 car.
Why is my maximum car price lower than my loan amount plus down payment?
Your loan plus down payment ($23,975.37 on the default inputs) is your out-the-door budget. That total must cover state and local sales tax plus title, registration, and dealer fees as well as the car. Subtracting $500.00 in fees leaves $23,475.37, and dividing by 1.06 for a 6% sales tax gives a $22,146.58 sticker price.
How does my debt-to-income (DTI) ratio limit how much car I can afford?
In Ask CFPB #1791, lenders divide your total monthly debt payments by your gross monthly pay to check what you can repay. On $6,000.00 gross pay, a 36% total DTI cap allows $2,160.00 in all monthly debts. If you already pay $1,800.00 a month on housing, student loans, and cards, only $360.00 remains for a car payment. At 6.5% APR over 48 months with $5,000.00 down, $360.00 a month caps your loan at $15,180.30 and your car price at $18,566.32.
Why does a 72- or 84-month loan let me buy a pricier car for the same monthly payment, and what is the catch?
Stretching a $450.00 payment at 6.5% APR from 48 to 72 months raises the loan to $26,769.89, and an 84-month term raises the loan to $30,304.18. However, total interest jumps from $2,624.62 over 48 months to $5,630.08 over 72 months and $7,495.79 over 84 months. Slow early payoff also raises the risk of owing more than the car is worth for longer.
How does a 0% APR promotional offer change how much car I can afford?
At 0% APR, every dollar of your payment goes to principal, so $450.00 a month for 48 months supports a $21,600.00 loan with $0.00 interest. With $5,000.00 down, 6% tax, and $500.00 fees, 0% APR raises your max car price by $2,476.06 over 6.5% APR, reaching $24,622.64.
What happens to my car budget if I have negative equity on my trade-in?
As CFPB Ask #769 and Ask #2045 note, owing more on your old car than its trade-in value is called negative equity. Rolling that unpaid balance into your new loan raises your loan balance and LTV ratio. Suppose your payment supports an $18,975.37 loan at 6.5% APR over 48 months with $0.00 cash down ($17,429.59 car price). If $3,000.00 of that loan goes to pay off your old car, only $15,975.37 is left for the new car, cutting your max car price to $14,599.41.
Sources
- CFPB, How much can I afford to borrow for a car or auto loan? (page reviewed Sep 12, 2023)
- CFPB, What should I know before I shop for a car or auto loan? (page reviewed Aug 28, 2023)
- CFPB, What things can I negotiate when shopping for a car or auto loan? (page reviewed Aug 28, 2023)
- CFPB, How does a down payment affect my auto loan? (page reviewed Sep 24, 2024)
- CFPB, What is a loan-to-value ratio in an auto loan? (page reviewed Mar 7, 2024)
- CFPB, Should I trade in my car if it’s not paid off? (page reviewed Sep 12, 2023)
- CFPB, What is a Truth-in-Lending disclosure for an auto loan? (page reviewed Mar 8, 2024)
- CFPB, What is amortization and how could it affect my auto loan? (page reviewed Sep 24, 2024)
- CFPB, What is a debt-to-income ratio? (page reviewed Aug 28, 2023)
- Regulation Z, 12 CFR 1026.18, content of disclosures (CFPB text) (current version)
- Regulation Z, 12 CFR 1026.17, general disclosure requirements (CFPB text) (current version)
- Regulation Z, Appendix H to Part 1026, closed-end model forms and clauses (CFPB text) (current version)
- Regulation Z, Appendix J to Part 1026, annual percentage rate computations for closed-end credit (CFPB text) (current version)
- Federal Reserve, G.19 Consumer Credit, August 2026 (page modified Oct 7, 2026)
- U.S. Bureau of Labor Statistics, Consumer Expenditures — 2025 (USDL-26-1619) (page modified Oct 30, 2026)
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