Simple Budgetary Calculator

The Power Shift Simple Budgetary Calculator has been replaced, for now, with a link to the Cars.com Affordability Calculator shown in the screen shot below. This is due to support issues with the previously hosted calculator. I have checked out the Cars.com calculator and it performs to my satisfaction. My apologies for the extra step!

CLICK HERE

Note: This link is not an affiliate link, nor do I have any financial arrangement with Cars.com.

Budgetary values computed for vehicle price and utilized when searching for vehicles are estimates only, and as such there are no guarantees regarding vehicle price or affordable vehicle price.

Problems using this calculator? Contact me at phil@powershiftcarbuying.com

Monthly Payment

Determine an amount you can afford. If you’re unsure, estimate and save that amount for three months. Don’t forget to factor in quarterly, semi-annual, or yearly payments like insurance or property taxes.

Down Payment

Make the maximum you can afford without dipping into your emergency savings.

Loan Terms

While loan terms can range from 36 months to 84 month or more, longer loans have higher interest rates.

Trade-in Value

Leave this field blank unless you know that your current car is worth significantly more or less than you owe on it.

State Sales Tax

If you’re unsure of your sales tax, do an internet search on “your state” sales tax. That should lead you to your state department of revenue or similar agency. Or you could make a quick call to a local dealer, but be prepared for a sales pitch!

Interest Rate

Your interest rate on a new-car loan will be largely dependent on your credit score. You can learn more about your credit score at myfico.com

Assuming that you are using this calculator before you have obtained loan preapproval, you’ll need to make an estimate of your potential interest rate. Bankrate.com provides a useful look-up tool to check rates in your area.

Note that the rates quotes are typically for top-tier credit scores. One example of the effect of credit score on interest rate can be seen in the rate sheet of Unitis Community Credit Union. Take your own credit score into consideration as you estimate your auto loan interest rate.