How much car can I afford?
Enter your gross annual salary and Cash Pedal works backwards to the vehicle price you can afford. Unlike calculators that only look at the loan payment, the budget includes the full monthly cost of ownership: payment, fuel, insurance, maintenance and registration for your state.
Three budgets are shown. Conservative keeps total car costs at 10% of gross income, comfortable at 15%, and stretch (aggressive) at 20%. Default assumptions are 20% down, a 48-month loan at 6.5% APR and 13,500 miles a year; all are adjustable, and a lease mode is available.
Tip: you can link straight to a result, e.g. /affordability?salary=75000 (add &mode=lease for leasing).
Frequently asked questions
How much of my income should go to a car?
A widely used guideline is to keep total transportation costs — payment, insurance, fuel and upkeep — between 10% and 15% of gross income. Cash Pedal shows budgets at 10% (conservative), 15% (comfortable) and 20% (stretch).
What is the 20/4/10 rule for buying a car?
Put at least 20% down, finance for no more than 4 years (48 months), and keep total monthly vehicle costs under 10% of gross income. Cash Pedal's conservative budget follows this rule by default.
Does the affordability estimate include insurance and gas?
Yes. The budget subtracts estimated monthly fuel, insurance, maintenance and registration (state-specific when you choose a state) before solving for the price you can finance.