The Finance Algorithm
§ Tool · tier 1 · independent

Car Affordability Calculator.

Calculate how much car you can afford based on your income and expenses

CalculatorFree, no signupOn-deviceupd May 2026
Inputs
Your numbers
$
$6k

Your take-home pay each month

$
$4k

Rent, bills, food, existing debts (excluding car)

$
$0

Fuel/insurance/rego/servicing for current car (freed up when upgrading)

$
$500

Expected fuel, insurance, rego, servicing for new car

$
$5k

Savings or trade-in value you can put toward the car

%
7.5%

Rate you expect to get (new cars 6-8%, used 8-12%)

5y

Math updates live as you change inputs · AI runs on submit

Awaiting inputs

Move the sliders or type in the form on the left — the math updates live as you go. Click Get AI verdict when you want a written analysis.

Before you fall in love with a car, make sure you can afford it! This calculator helps you work out a realistic budget based on your income, expenses, and the true cost of car ownership.

§ Worked examples

Real-world scenarios

First Car Buyer

Jake earns $4,500/month after tax, has $2,800 in expenses, and $3,000 for a deposit.

Inputs

income:4,500expenses:2,800deposit:3,000

With $1,700 buffer minus ~$400 running costs, Jake can afford ~$350/month loan payment. That's about a $20,000 car with deposit.

Upgrading Family Car

The Smiths have $8,000/month income, $5,500 expenses, currently spend $450 on their old car, and have $15,000 deposit.

Inputs

income:8,000expenses:5,500currentCar:450deposit:15,000

Budget allows ~$600/month on car costs. With $500 running costs, $600 loan payment is comfortable. They can afford ~$45,000 car.

§ FAQ

Questions Australians ask

§ Glossary

Plain-English definitions

Running Costs
Ongoing car expenses including fuel, insurance, registration, servicing, and repairs.
On-Road Costs
One-time costs when purchasing including stamp duty, dealer delivery, and registration setup.
Debt-to-Income Ratio
The percentage of your income going to debt repayments - lenders use this to assess affordability.