The true cost
Car Affordability Calculator: What Can You Afford?
Work out how much car you can afford from a monthly budget — no credit check, no impact on your file.
Car price (indicative)
£10,619
Monthly payment
£250.00
What your budget could buy
- Amount you'd finance
- £9,619
- Your deposit
- £1,000
- Total interest
- £2,381
This is indicative only and runs no credit check. Real approval depends on your income, outgoings and credit file — the lender does an affordability assessment under FCA rules.
How we work this out
We turn a monthly budget into a maximum amount financed: P_max = monthly budget × (1 − (1 + monthly rate)^−term) ÷ monthly rate. Add any deposit to get the car price. Total payable = budget × term. This is indicative only and runs no credit check.
Real approval depends on your income, outgoings and credit file. This is a guide, not a quote or an offer.
Full method: how we calculate.
Car affordability works backwards from a monthly budget to the car price it buys, with no credit check. Enter what you can comfortably pay each month and this calculator shows the indicative price, the total amount payable and the interest your budget really covers.
Knowing the price is only half the answer. The total you hand over by the end is what truly matters. Set your budget, term and APR above and see both figures at once.
How much car can you afford?
You can afford the car whose monthly payment fits comfortably inside your budget after all your other bills. A common rule of thumb is to keep car costs — finance, insurance, fuel and tax — under about 15% of your take-home pay.
Lenders run their own affordability check under FCA rules, looking at your income and outgoings. This tool gives you the same starting point in seconds, with no credit check and no mark on your file.
What does a monthly budget buy?
A £300 monthly budget over 48 months at 9.9% APR buys roughly £11,950 of car finance. Stretch to £350 a month and that rises to about £13,940 — but the total you pay rises too.
Worked example
Budget, car price and total cost compared
The bigger your monthly budget, the more car you can buy — but the more interest you pay in total. Compare the price against the total amount payable before you commit.
Adding a deposit lets the same budget buy a more expensive car — see how on the deposit calculator. To compare finance types for your number, use the PCP and HP calculators.
| Monthly budget | Car you can finance | Total payable | Interest |
|---|---|---|---|
| £250 | ≈ £9,955 | ≈ £12,000 | ≈ £2,045 |
| £300 | ≈ £11,946 | ≈ £14,400 | ≈ £2,454 |
| £350 | ≈ £13,937 | ≈ £16,800 | ≈ £2,863 |
Budget for the running costs too
Your monthly budget should cover more than the finance — insurance, fuel, tax and servicing all add up. A car that fits your finance budget can still be unaffordable once you run it.
Add all of it together with the total cost of ownership calculator so your real monthly is no surprise.
- Insurance: often £40–£80 a month, more for newer or higher-powered cars.
- Fuel or charging: typically £100–£150 a month depending on your mileage.
- Tax, servicing and tyres: budget another £40–£60 a month on average.
Will a lender actually approve it?
This figure is indicative — a lender's decision depends on your income, outgoings and credit file, not just the monthly. Use it to set a realistic target before you apply.
When you are ready, get a closer estimate with our eligibility calculator, which also runs no credit check. A stronger credit score or a bigger deposit widens what you can borrow and lowers the rate.
Could you be owed money on a past deal?
If you financed a car between 2007–2024, hidden commission may have pushed up your rate — making a past car less affordable than it should have been. You may be owed redress.
The FCA's redress scheme follows the Supreme Court ruling of 1 August 2025. Check your position with the compensation estimator — an estimate, not a promise, and free to claim yourself.
Frequently asked
How much car can I afford?
Does this affordability calculator run a credit check?
What is a sensible monthly car finance budget?
Does a deposit change how much car I can afford?
Is the affordability figure a guarantee I'll be approved?
Work out your next step
Independent calculators — pick the one that fits your situation.