How much vehicle should you buy?

Welcome to the GMAC Affordability Calculator. This tool will help you budget for a vehicle payment and determine the right vehicle price for your budget. Please enter your income and expenses to find the estimated vehicle payment range you can afford. Next, experiment with different financial terms to see the effect on your estimated affordable purchase price.

Enter the amount of your monthly income after all taxes and other withholdings. This is commonly referred to as your net or take-home monthly income.

Enter your monthly expenses by category. You'll see the effect on your monthly income and on the vehicle payment range.

Only enter existing auto payments that will continue when you purchase your next vehicle. Do not enter an existing vehicle payment that will cease to exist as a result of purchasing another vehicle.

While everyone's circumstances are different, a guideline for an auto payment is 15-20% of your take home pay after credit card payments, other auto payments, and student loan expenses. The possible auto payment range is calculated using these figures; however, the possible payment cannot be more than the amount of your remaining income after all expenses.

Try entering different terms and see the effect on the price of vehicle you can afford. When you have decided on a target monthly payment, you can estimate the level of car that can be financed with traditional retail financing. The vehicle payment amount carries forward from the high end of your vehicle payment range but you can adjust it up or down to see the effect on vehicle price. The affordable purchase price represents an estimate based on the information you provided.

Enter the annual percentage rate you would expect to obtain and see the effect on the estimated price of the vehicle you can afford.

Try entering different length of finance contract terms and see the effect on the estimated price of vehicle you can afford.