Car Affordability Calculator
Check a new-car quote against your take-home income, expenses, savings and motor-loan down payment.
Check a new-car quote against your own monthly budget and the required down payment. Enter take-home income and keep emergency savings separate.
Your budget and quote
Estimated purchase budget
S$75,000
Limited by both your monthly surplus and available down payment.
Quote exceeds the entered budget
- Available for monthly instalment
- S$1,500
- Minimum down payment for this quote
- S$60,000
- Additional down payment needed
- S$30,000
- Loan required after your deposit
- S$120,000
- Estimated monthly instalment
- S$1,706.57
- Monthly budget shortfall
- S$206.57
- Applied loan term
- 7 years
- Maximum loan-to-price ratio
- 60%
This is a personal cash-flow estimate, not loan approval. The OMV bands shown apply to new cars; ask the lender for the applicable OMV and available term for a used car. Fees and balloon payments are excluded.
How this calculator works
Start with take-home income, then subtract living costs, existing debt payments, car running costs and the amount you want to save each month. The remaining cash is the monthly instalment budget. These are your assumptions, not an automatic bank lending decision.
available_monthly = max(0, income − commitments − running_costs − reserve)
loan_budget = available_monthly × years × 12 / (1 + flat_rate × years)
price_budget = min(loan_budget + deposit, deposit / (1 − maximum_LTV))The second constraint matters: a high income does not replace the required down payment. The applicable new-car OMV band determines the maximum loan as a share of the final purchase price including COE and taxes. The calculator reads current limits from the shared effective-dated rule catalog.
The quoted price is used directly. We do not invent prices or apply car taxes to motorcycles or commercial vehicles. Keep emergency savings outside the deposit amount.
Source: MAS motor vehicle financing limits. For a used car, ask the lender to confirm its applicable OMV and available loan term.
What this calculator does not capture
Lender credit assessment, fees, balloon payments and future income changes are excluded. Running costs are the monthly amount you enter. A quote that fits these inputs can still be unsuitable if expenses rise.
Frequently asked questions
- Does this estimate guarantee loan approval?
- No. It checks your entered cash flow and down payment against the selected new-car OMV band. A lender must assess credit eligibility, the vehicle and the loan terms separately.
- Why can my savings limit the purchase budget?
- A motor loan covers only part of the purchase price. Your deposit must cover the remainder even if your monthly income could support larger repayments.