Affordability calculator
How much car can you afford?
Work out a sensible budget from your income and outgoings, before you start shopping. Based on the 20/4/10 rule.
Your details
Your car budget
Most you should spend£7,020
Monthly income before tax£2,917
Car budget, 10% of income£292
Running costs, estimated−£175
Left for a monthly payment£117
Saving up instead
Left to save each month£533
Time to save £6,00012 months
Your next steps
- Focus on a Honda Civic, Toyota Corolla or Ford Focus
- Set aside £150 to £200 a month for maintenance
- Check any car for free before you travel
What's the 20/4/10 rule?
- 20%
- Put down at least 20%, so you don't owe more than the car's worth.
- 4 years
- Borrow for 4 years at most, to keep the interest down.
- 10%
- Keep all car costs under 10% of your income before tax.
A rough guide, not financial advice. It assumes take-home pay of about 80% of income and running costs of about 60% of your car budget.