Car Affordability Calculator
Discover how much car you can afford based on your income, expenses, and financial goals. Our smart calculator considers EMI, insurance, maintenance, and running costs to recommend the perfect car budget without straining your finances.
Choose Your Affordability Approach
Your Financial Profile
Monthly Income Details
Monthly Expenses
Savings & Financial Goals
Car Preferences & Usage
Affordability Report
Max Affordable Car Price
Financial Breakdown
🚗 Monthly Car Costs
📊 Affordability Score
💡 Smart Recommendations
Recommended Cars for Your Budget
Affordability Comparison
| Approach | Income % | Max Car Price | Monthly EMI | Risk Level |
|---|
Car Affordability Rules of Thumb
The 20% Rule
Total transportation costs (EMI + fuel + insurance + maintenance) should not exceed 20% of your gross income.
The 4x Annual Income Rule
Car price should not exceed 4 times your annual take-home salary. Conservative and widely accepted approach.
The 50/30/20 Budget Rule
Car falls under 30% "wants" category. Ensures balanced financial planning with needs, wants, and savings.
Factors Affecting Car Affordability
Factors That Increase Affordability
Factors That Reduce Affordability
⚠️ Important Disclaimer
This car affordability calculator provides estimates based on general financial principles and the information provided. Actual affordability may vary based on individual circumstances, future income changes, unexpected expenses, market conditions, and personal financial goals. The calculator assumes standard costs for fuel, insurance, and maintenance, which may vary significantly based on location, car model, and usage patterns. Always consider your complete financial picture, consult with financial advisors, and maintain adequate emergency funds before making major purchase decisions. Loan approval and terms depend on credit history, lender policies, and other factors not considered in this calculation.