How Much Car Can I Afford?
The short answer: the car you can afford is the one whose total monthly cost, including payment, insurance, fuel and maintenance, fits comfortably in your budget without straining other goals. Start with the total cost, not the payment alone. This guide is general information, not financial advice, and it does not promise any approval, rate or payment.
Start With Your Whole Monthly Picture
List your take-home income and your fixed costs first. What remains is what a vehicle can reasonably use, and that has to cover more than the loan or lease payment.
| Cost | What to include |
|---|---|
| Payment | Loan or lease payment, which depends on price, down payment, term and approved rate |
| Insurance | Get a quote for the exact vehicle; it varies by model and driver |
| Fuel or charging | Based on how much you drive and the vehicle's efficiency |
| Maintenance and repairs | Routine service, tires and the chance of out-of-warranty repairs on older vehicles |
| Taxes, title and fees | Ask for an itemized out-the-door estimate |
| Parking and tolls | Easy to overlook in the city |
Levers That Change the Payment
A larger down payment, a trade-in, a lower price or a shorter or longer term all change the monthly figure. A longer term can lower the payment but usually raises the total interest, so compare the total cost, not only the monthly amount. See how auto financing works and lease vs buy.
Your Trade-In Counts
If you own a vehicle, its value can reduce what you need to finance. See how car trade-ins work or use the trade value tool.
New or Used Changes the Math
Used vehicles often cost less to buy, while new vehicles may carry a warranty and different financing options. Compare in new vs used cars.
Next Steps at Dial
You can start a finance application or pre-qualify before you shop, then browse new or used inventory. Approval, rates and terms depend on the lender and your credit profile.
Keep Researching
- How Auto Financing Works
- Lease vs Buy
- First-Time Car Buyer Guide
- What to Bring When Buying a Car
- Research Center
Shop at the Right Dial Location
Dial Auto Group has five Chicago dealerships. Each brand is sold at specific stores, so start with the store that carries the vehicle you want.
| Dealership | Brands | Address | Shop |
|---|---|---|---|
| Dial Chevy of Chicago | Chevrolet | 6603 S Western Ave, Chicago, IL 60636 | New | Used |
| Dial Nissan of Chicago | Nissan | 7410 S Western Ave, Chicago, IL 60636 | New | Used |
| INFINITI of Chicago | INFINITI | 2711 S State St, Chicago, IL 60616 | New | Used |
| Dial Chrysler Dodge Jeep Ram of Chicago | Chrysler, Dodge, Jeep, Ram | 7340 S Western Ave, Chicago, IL 60636 | New | Used |
| Jeep of Chicago | Jeep | 5950 N Western Ave, Chicago, IL 60659 | New | Used |
See all Dial Auto Group locations or search new and used inventory across the group.
Last reviewed October 2026 by Dial Auto Group. This guide is general information, not financial or legal advice. Vehicle features, availability and pricing vary by model and dealership; confirm details with the store.