How Much Car Can I Afford?

Which car will fit best in my garage? Is an SUV safe? What features are most important to me? Will it last for 5 years or more?

When looking to buy a new car, there are a variety of questions you’ll want to ask yourself. Maybe you’re considering the type of vehicle you want, or the make and model of your new ride. You also might consider the size of the vehicle or gas mileage. Not to mention looking at safety features or luxury features like heated seats, sunroofs, or audio systems.

But for many people, the starting point is even earlier than that, determining how much car they can afford. Evans Volkswagen makes the first step easy with a payment calculator that can help you determine your monthly payments or your purchasing power. And of course, once you know your purchasing power, you can start to browse the fantastic selection of new and used vehicles that Evans Volkswagen has to offer.


Payment Calculator

When considering your purchasing power, you should take into consideration things like interest rate, down payment, loan term, and monthly payments.

Quick Guide:

- Interest Rate - a percentage of cost given to the bank for loaning you money
- Down Payment - out of pocket cost taken off the price of the vehicle
- Loan Term - Amount of time you have to pay off the vehicle.

The most important thing to consider out of these is the monthly payments - how much money can you afford to put to your car payment each month. Everyone has a different answer for how much you should spend on a vehicle, ranging from 10% to 50% of your monthly take-home income - this generally includes things like insurance, gasoline, and maintenance.

According to Bank Rate, “The average American should spend at or below 20% of take home income per month on a car payment.”

At the end of the day, choose a monthly payment amount that you feel you can fit comfortably into your budget without fear of falling into the negative. Your monthly payment amount is not set in stone based on the total cost of your vehicle - the payments can be lowered by increasing the amount put towards the down payment or by extending the term of your loan or how long you have to make pay off your. A high down payment with a short loan term will have you paying off your loan quicker, but may mean you have a higher monthly payment with less purchasing power. A lower down payment and longer loan term may mean you can purchase a more expensive vehicle and still keep your monthly payments low.


If you are a student or a service member, you may have an opportunity to make your vehicle even more affordable with special discounts.

Special Buying Programs Price Specials

Once you have figured out how much you can afford, you can take a look at Evans Volkswagen’s selections of new and used vehicles just waiting for the perfect owner. And remember… we offer $3,000 in added value with Evans VIP Perks.

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