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How much car can I afford?

Enter what you earn and what you spend. See what’s left for a car, with insurance, fuel and upkeep already included in the estimate.

Start with two numbers

What arrives in your account after deductions.

Include housing, bills, debt payments, everyday spending and money you set aside. Leave out costs for the car you’re replacing.

Starting benchmarks: $180.33/month insurance, $219.36 fuel, $208.33 maintenance and $0 parking. Loan: 6.55% over 60 months, $0 down and $59.00 one-time licensing. Ontario HST included. Example only; adjust these figures below.

Where the starting figures come from

Example only. These reference values are editable. Sources checked September 28, 2026; each data period is shown below.

  • Insurance: $180.33/month = $2,164/year ÷ 12. FSRA’s Ontario average, October 2025, for insured private passenger vehicles. Your location and driving record affect your premium.
  • Fuel: $219.36/month = 20,000 km/year × 7.9 L/100 km × $1.666/L ÷ 12. The Ontario gasoline price covers February 17–May 15, 2026. Mileage and consumption follow the 2026 CFS vehicle-cost study. This is a driving scenario, not measured average Ontario mileage. Replace fuel costs for an EV or different driving pattern.
  • Maintenance: $208.33/month = 20,000 km/year × 12.5¢/km ÷ 12. The same CFS study’s Canadian model includes servicing, repairs, tires, miscellaneous upkeep and tax over four or five years of ownership. It is not an Ontario survey average; older vehicles may cost more.
  • Parking: $0 assumes free parking. Add your own parking costs.
  • $59.00 covers a new or replacement Ontario plate with its permit. Use your quoted amount; enter $0 if already included. ServiceOntario fees.
  • Interest: 6.55% is the Bank of Canada’s national bank auto-loan average for funds advanced in June 2026 (series V122667805). This is a benchmark, not a loan offer or Ontario-specific rate. Vehicle-specific advertised rates and your own entries take precedence.
  • The 60-month term and $0 down are example choices, not averages. Use your intended term and down payment.
Adjust running costs and loan details
Monthly running costs
Loan details

6.55% is a national bank benchmark. Use the rate for your chosen vehicle and term.

$59.00 covers a new or replacement Ontario plate with its permit. Use your quoted amount; enter $0 if already included. ServiceOntario fees.

Your income and spending are used here only and aren’t saved.

Vehicle price ceiling · before HST

Enter your take-home pay and monthly spending to see your price ceiling. Your estimate updates as you type.