Car Affordability Calculator
Determine how much you can afford to spend on a car based on your monthly income, expenses, and credit history.
Income Questions
*Your net monthly income is your total income after tax and deductions.
*Current monthly payments to the bank for your current car.
*Debt repayments that you must make each month such as bond repayments, store cards, credit cards, personal loans, etc.
*Your payment history for existing debt is a major factor in whether you will get vehicle finance in the future.
Monthly Budget
A good rule of thumb is that car payments should ideally not exceed 20% of your net income.