Car savings calculator
Whether you're buying outright or saving a down payment, enter the amount and the date you want it by. It shows the weekly, monthly, or per-paycheck amount to get there.
Enter an amount and a future date to see how much to save.
Rough example: $8,000 over about 15 months is around $533/month, $123/week, or $245 per paycheck. Enter your own amount and date above for your number.
Buying outright vs. a down payment
Paying cash for a used car means saving the full price and skipping interest entirely. Financing means saving a down payment — often 10–20% of the price — plus tax, title, and registration. Decide which you are doing and set the goal amount to match.
Don't forget the extras
Add sales tax, registration, and any immediate maintenance or insurance changes to your target. A slightly high round number leaves room for these so the car does not arrive with a surprise bill attached.
Common questions
- How much should I save each month for a car?
- Divide the price or down payment by the months until you want to buy. $9,000 over 15 months is $600 a month. Enter your figures above for weekly and per-paycheck amounts.
- How much should a car down payment be?
- A common guideline is 20% down on a new car and 10% on a used one, which lowers your loan and monthly payment. Saving more shortens the loan further.
- Is it better to save up and pay cash?
- Paying cash avoids all loan interest and keeps your monthly budget clear. If that means a longer wait, a down payment now plus a short loan is a reasonable middle path.
Saving for more than one thing?
The full planner keeps every goal in one place, tracks progress with a visual tracker, and lets you shift a target date and see the new amount instantly. Still free, still private, still stored only on your device.
Open the full planner