Car Loan Calculator

What's the monthly payment on a car?
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Monthly payment = $545
Total yearly payments = $6,535
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $521
3.0% $531
4.0% $542
5.0% $553
6.0% $564
7.0% $575
8.0% $586
9.0% $597
10.0% $609
Payments by Amount Down
Down Monthly Payment
$0 $681
$1,000 $658
$2,500 $624
$5,000 $567
$7,500 $511
$10,000 $454
Payments by Loan Length
Length Payment
24 months $1,045
36 months $711
48 months $545
60 months $445
72 months $378
84 months $331

Can I afford a $30,000 car?

Is your salary enough to buy a $30,000 vehicle? A general rule of thumb for buying a car or truck is the 20 / 4 / 10 rule.

  • Make a down payment of at least 20% cash. For a $30,000 vehicle, this would mean saving up $6,000.
  • Pay back the loan in 4 years or less.
  • Don't spend more than 10% of your income on payments and insurance. Rough estimate: your annual income should be at least 2.5 times the purchase price. So to afford a car that costs $30,000, you would need to make at least $75,000 per year.