Work out how much bike or car you could afford to finance from your own income. Enter your monthly income, other commitments, the share of income you are willing to spend on a vehicle, your running costs, your down payment, and the markup rate and months from a lender’s offer. The calculator shows the monthly amount left for the instalment, the largest amount you could finance, and the vehicle price that would cover with your down payment.
You supply every figure. This tool does not suggest an income share, a rate or a price, and it is not financial advice.
The share is your own limit, applied to your income after other commitments. Use the rate and method from your lender’s offer. This tool does not suggest a share, a rate or a price.
Nothing you type is stored or sent anywhere. Results are calculated from the numbers you enter.
How to use the affordability calculator
- Enter your monthly income after tax and any other monthly commitments, such as rent or existing loans.
- Enter the share of the income that is left which you are willing to spend on a vehicle. This is your own decision, so the tool starts empty.
- Enter your monthly running costs. Our vehicle ownership cost calculator can help you add them up.
- Enter the down payment you have, and the yearly rate and number of months from your lender’s offer. Pick the method your lender uses.
- Press “Work out what I can afford”.
How the results are worked out
- Income left = monthly income − other commitments
- Monthly vehicle budget = income left × your share ÷ 100
- Available for the instalment = vehicle budget − monthly running costs
- Flat rate: amount you could finance = instalment × months ÷ (1 + yearly rate ÷ 100 × months ÷ 12)
- Reducing balance: amount you could finance = instalment × (1 − (1 + monthly rate)−months) ÷ monthly rate, where the monthly rate = yearly rate ÷ 100 ÷ 12
- Vehicle price covered = amount you could finance + your down payment
Worked example (made-up numbers, not an offer)
Take a monthly income of Rs. 100,000, other commitments of Rs. 20,000, a 30% share, running costs of Rs. 8,000, a down payment of Rs. 100,000, a yearly rate of 20% and 36 months. Income left is Rs. 80,000, the vehicle budget is Rs. 24,000 and Rs. 16,000 is left for the instalment.
- Flat rate: you could finance Rs. 360,000, which covers a vehicle priced at about Rs. 460,000 with the down payment.
- Reducing balance: you could finance about Rs. 430,529, which covers about Rs. 530,529.
These figures only show how the calculation works. They are not a real quote.
What this calculator does not include
- What a lender will approve. Lenders have their own rules on income, age and repayment ability, and the final decision is theirs.
- Processing, documentation and other fees, insurance or takaful, registration and token tax, and late-payment charges.
- Changes in your income or costs during the loan.
- Any rate, income share or vehicle price. We have not verified any such figures for this page, so it shows none.
Next steps
Once you have a rough price, work out the instalment with the bike installment calculator or the car installment calculator. Plan the down payment with the vehicle down payment savings planner, and check whether owning beats ride-hailing with the own vs ride-hailing cost calculator. If you borrow, see how paying extra could finish your loan sooner with the vehicle loan extra payment calculator. Selling your current vehicle to help pay for the next one? Work out the cash you would receive with the vehicle sale proceeds calculator.
Vehicle affordability calculator FAQs
How much of my income should I spend on a vehicle?
That is your own decision, so this tool does not suggest a share. Try different shares and see how the result changes.
Why are running costs taken off?
Fuel, servicing, insurance and tax come out of the same money as the instalment, so only what is left can go towards repaying the loan.
Which method should I pick?
Use the one in your lender’s offer. The same quoted rate gives a different result under each method, so ask your lender which one it uses.
Will a lender approve this amount?
This tool cannot tell you that. Lenders make their own decision, so ask them directly.
Is my data stored?
No. The calculation runs in your browser, and nothing you enter is sent to our servers.