Another free, online financial assessment tool has hit the market this week designed to give consumers a quicker, more convenient way to tell if they can afford dealer quotes.

Requisite Press has launched AffordCheck, a financial assessment tool based on the 20-4-10 auto financing rule, which consists of a minimum 20 percent down payment, a maximum four-year loan term and monthly payments of no more than 10 percent of gross household income.

"We all know that it's important to live within our means," said Phil Kelton, president of Requisite Press, "but when it comes to car buying, it hasn't been easy to apply that knowledge. AffordCheck makes it simple."

Using the new tool, potential buyers can determine an affordable payment and price, or get an instant assessment of dealer quotes.

As such, the tool has the potential help dealers move on past the question of affordability and inspire them to connect with dealers for a sale.

Here’s how it works:

Buyers enter household income and local sales tax. Then, the tool determines an affordable payment and bottom-line price.

Default values, including the loan term and down payment amount, can be adjusted to determine the effect on the monthly payment, price, and affordability, the company pointed out.

The tool also has the potential to speed up the F&I process for dealers.

Buyers that already have price quotes from dealers can select the Check My Quote option, and enter the entire terms of the deal, including bottom-line price, down payment, financing offer and insurance premium estimate.

The free tool is available at http://requisitepress.com/AffordCheck.