When to Buy Car Calculator

How the When to Buy Car Calculator works

The down payment target is 20% of the car price. The calculator divides it by your monthly saving and rounds up to whole months. It does not add any return on the savings.

It also checks the car price against six times your monthly take-home, which is half a year's pay. A car above that is flagged as too expensive.

More than 24 months of saving is a caution, and more than 36 months is flagged as too slow.

Formula

Months = 20% of car price ÷ monthly saving (rounded up); Price cap = 6 × monthly take-home

• Savings are not assumed to earn interest

Worked example: ₹8 lakh car, ₹1,50,000 take-home, saving ₹15,000 a month

1. 20% down payment = ₹1,60,000.
2. At ₹15,000 a month, that takes 11 months.
3. Six times take-home is ₹9 lakh, so the ₹8 lakh car is within the cap.
4. Both checks pass: under 24 months of saving and under the price cap.

Tips

• If the wait is over two years, save more each month or choose a cheaper car.
• Keep the down payment money in a safe option such as an RD, since you need it soon.
• A bigger down payment means a smaller loan and lower EMI. Check the EMI with the car loan calculator.
• Keep your emergency fund separate from the car fund.

Want to know if your whole plan is on track? Get your free money score in about two minutes. No PAN, no Aadhaar.

About the When to Buy Car Calculator

Free when to buy a car calculator. See how many months it takes to save a 20% down payment and whether the car fits your monthly income.

Frequently asked questions

How much down payment should I keep for a car?

A larger down payment lowers EMI stress. This tool helps you plan when savings reach a comfortable down payment.

How is the waiting time worked out?

The calculator divides the down payment you still need by what you can save each month.

What share of salary should a car loan take?

Keep the monthly car loan payment under about 10–15% of your take-home pay.