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Struggling to determine your car budget? Our Excel template is here to help. It simplifies the process of calculating how much you can afford to spend on a car, making it a quick and hassle-free experience.


Features of the Template:

  • Key Factors Influencing Car Payments: Understand the impact of loan amount, interest rate, loan term, down payment, and credit history on your monthly payments.

  • Essential Formulas: Learn about the 35% Rule, 10-20 Rule, and 20-4-10 Rule. These guidelines will help you gauge a reasonable spending range for your new car.

  • User-Friendly Design: The template is easy to use and takes less than 10 minutes to complete. It includes customizable cells, pre-populated numbers based on financial expert recommendations, and automatic calculations to do the heavy lifting for you.

  • Detailed Amortization Schedule: Track how much of your monthly payments go towards principal and interest. This clear breakdown helps you understand the total interest you'll pay over the loan term and the monthly financial commitment you're making.

Why This Template?

  • Efficiency: Quick and straightforward to use, saving you time and effort.
  • Informed Decisions: Provides a clear understanding of how car payments fit into your financial situation.
  • Clarity: Breaks down complex financial concepts into an easy-to-understand format.


For a Step by Step Live Tutorial, watch Youtube video here.

How Much Car Can I Afford Calculator

Excluding GST/HST
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