What salary do I need to afford this car?
Enter a vehicle price and Cash Pedal calculates the monthly payment plus fuel, insurance, maintenance and registration, then shows the gross annual salary needed to keep that total at 10% (conservative), 15% (comfortable) or 20% (stretch) of income.
Pick a specific make, model, year and trim for vehicle-specific fuel economy, insurance and maintenance estimates. Link straight to a result with /salary?price=35000.
Frequently asked questions
What salary do I need for a $40,000 car?
With 20% down, a 48-month loan at 6.5% APR and typical operating costs, a $40,000 car costs roughly $1,275 a month all-in. Keeping that under 15% of gross income takes a salary of about $102,000; under 10% (the 20/4/10 rule) about $153,000. Use the calculator for your state and terms.
Is it better to lease or buy?
Leasing lowers the monthly payment but you never build equity; buying costs more per month during the loan but is usually cheaper over 5+ years. The salary calculator has a lease mode so you can compare both.