Car Affordability Calculator - 20-4-10 Rule

The 20-4-10 rule is a simple guideline that can help you avoid taking on too much debt when buying a car. Here's how it works:

• 20% Down Payment: Aim to put down at least 20% of the car's purchase price.
• 4-Year Loan: Don't take out a loan for longer than four years.
• 10% of Monthly Income: All monthly car related expenses including the loan payment, insurance, fuel, and maintenance shouldn't total more than 10% of your monthly take-home pay.

This calculator will help you determine how much car you can afford based on the 20-4-10 rule, considering additional costs like maintenance, insurance, and fuel. Note that the maintenance, fuel, and insurance costs were determined by referencing historical averages for these car models rather than data for any particular model year.