How to Calculate Your Car Loan Borrowing Power

Are you wondering how much you could borrow for your next car loan? 

Estimate your maximum loan size by completing a few simple steps in our borrowing capacity calculator.

If you need help, contact our team of expert car loan brokers today!

1. Enter Personal Details

Are you applying for a car loan as an individual or a joint application? You will find additional fields to enter if it is a joint application. You can also enter here if you have dependents.

2. Detail your Income

Enter your gross salary and any additional income you receive from a second job or investments. Make sure you enter both borrowers if it is a joint application so you get an accurate idea of what car loan you can afford.

3. Detail Your Expenses

Provide a summary of your general living expenses and any other loans you are currently repaying. Credit Cards are treated differently and only the combined limits of your cards are required. Make sure you do not enter credit card debt twice or the outcome will be much lower. 

4. Enter Your Desired Loan Term

The repayment period will influence how much you could be approved for. A longer loan term means lower repayments and higher potential borrowing power. You will also have to enter an interest rate. This will vary depending on your credit score and type of vehicle you will be purchasing. 

The Experts in Auto Finance

Our brokers will provide expert guidance to find the most suitable car loan for your circumstances. 

How does it work?

The Gusto Way

Fast track your used car loan application and compare the best rates on the market. Our expert auto finance brokers will find the right deal for you today! 

Free Quote

A no-obligation consultation where our expert car loan brokers will match you with the lenders that suit your needs.

Application

We prepare your auto finance application to the lender of choice to get you the best rate.

Approval

Sign the the contract and get approved in as little as 24 hours.

On Your Way

You’re ready to hit the streets in your new wheels!