Can I Afford a Car? — Car Loan Affordability Calculator
Advanced Car Affordability
Recommended Car Price
function carCalc() {
var income = parseFloat(document.getElementById(‘car-income’).value) || 0;
var down = parseFloat(document.getElementById(‘car-down’).value) || 0;
var ins = parseFloat(document.getElementById(‘car-ins’).value) || 0;
var gas = parseFloat(document.getElementById(‘car-gas’).value) || 0;
if (!income) return;
var takeHome = income / 12 * 0.75;
var availForLoan = (takeHome * 0.15) – ins – gas;
var r = 0.07 / 12; var n = 60;
var loan = availForLoan * ((1 – Math.pow(1 + r, -n)) / r);
var fmt = new Intl.NumberFormat(‘en-US’, {style:’currency’,currency:’USD’,maximumFractionDigits:0});
document.getElementById(‘car-max-price’).textContent = fmt.format(Math.max(0, loan + down));
document.getElementById(‘car-result’).style.display = ‘block’;
}