Loan · Insurance · Fuel · Maintenance · Depreciation · EV vs Gas AI
This calculator estimates the monthly loan payment, total interest, and broader cost of owning a car. A dealer quote often focuses on the monthly payment only, but a realistic budget also includes insurance, fuel or charging, maintenance, tires, registration, parking, taxes, and depreciation. The goal is to help you compare the true monthly cost before you sign a loan contract.
The loan payment is calculated from the financed amount, annual percentage rate, and loan term. The financed amount is the car price minus the down payment. Fees, taxes, trade-in value, and rebates can change the final number, so use your local quote as the final reference.
A common guideline is to keep the loan payment below 10% to 15% of monthly take-home pay and the total transportation cost below 20% to 25%. If the loan payment alone is above 40% of monthly income, the calculator flags it as high risk because insurance, repairs, and fuel can quickly make the car unaffordable.
Two cars with the same monthly payment can have very different real costs. A used luxury SUV may have higher insurance, tires, maintenance, and depreciation than a compact sedan. An EV may cost more upfront but save money on energy and maintenance if electricity is inexpensive and you drive enough miles each year.
Imagine a $35,000 car with a $5,000 down payment. At 6.5% APR for 60 months, the payment is much different from a 72-month loan at the same rate. The longer loan may lower the monthly payment, but it increases total interest and can keep you upside down on the loan for longer.
Use the sliders above to test each scenario. If a small change in insurance, fuel, or interest rate breaks your budget, the car is probably too expensive for your current income.
These guides explain the decisions behind the calculator. They are written for buyers who want to understand affordability, loan risk, EV comparisons, and the hidden costs that do not always appear in dealer advertisements.
No. The calculation runs in your browser. The numbers you type are used to update the results on the page and are not sent to our server.
No. It is an educational estimate. Actual savings depend on your local energy prices, insurance quote, driving pattern, repair costs, incentives, and resale value.
Not always. A lower payment can come from a longer term, which often increases total interest and negative-equity risk. Compare the total interest and full monthly ownership cost before choosing.