Budget Calculator

Fit your new car payment into your budget in a few clicks.

With the right information, you’ll be ready to go. Use this budget calculator to fit your new car payment into your existing budget so you can get on the road.

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By the Numbers

Need a little help with your monthly budget? Fill in the boxes below to see just how much you are spending.

$

Monthly expenses

$
$
$
$
$
$

Please check the numbers


Your monthly budget is

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How Much Car Can I Afford?

Great question. Fill in the boxes below to help with the answer and determine what price you can afford to pay for a car.

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mo
%
$

Please check the numbers


You can afford a car up to

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A Little Extra

Fill in the boxes below to see how putting additional money toward your monthly auto loan can affect your payment.

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mo
%
mo
$
$

Please check the numbers


Loan term shortened by

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Total interest saving

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Estimate your monthly new or used car loan payment

This tool can help you figure out how much you might spend each month for your car.

$
mo
%
$

Please check the numbers


Your monthly payment would be

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The Refinance Option

Fill in the boxes below to discover if you can save money by refinancing your current vehicle.

Current loan

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$
%

New loan

$
mo
%

Please check the numbers


Monthly payment saving

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Monthly payment

0(current)

0(new)


Interest saving

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Interest payment

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Change in Cost

To see the potential savings in fuel cost from your current vehicle to a new one, fill in the blanks below.

MPG
MPG
miles
$/gal
Avg. regular fuel price is

Please check the numbers


Annual fuel savings with the new car

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*APR is the Annual Percentage Rate. Rates depend on the individual's excellent and substantial credit and key loan characteristics, including amount, term, vehicle age. A representative example of payment terms are as follows: a loan amount of $20,000 with an APR of 7.50% and a term of 70 months, would have a monthly payment of $353.63 with no down-payment required.

Using a budget calculator like this one can help you better understand car financing in two ways:

  1. It lets you see things the way they are. When you use a budget calculator by entering your monthly expenses as they currently are, you can see factors that you may not have been previously aware of. And with this new information, you will be better prepared to make financial decisions when the time comes.
  2. It lets you play with the numbers, to see things that might be. Being prepared with a more detailed knowledge about your current finances is excellent, but what changes might arise in the future that could affect them? With this budget calculator you can take a look at adjustments in your ability to buy a car in case of a change in income, or a change in your regular expenses.

Once you see how a car payment will work alongside your monthly budget, you can apply with confidence, and get on the road.