What does "PTI" stand for?

The payment-to-income (PTI) ratio is a percentage that describes your car payment in relation to your pre-tax income. As an example, if your monthly car payment is $300 and your gross monthly income is $3,000, then your PTI is 10%. Lenders usually look for a PTI that sits at around 15% when considering how large to make a loan, but this is just one of a host of factors that go into the process of securing the best financing options your unique situation.