$10,000 Car Loan

What's the monthly payment on a $10,000 car?
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%
Monthly payment = $182
Total yearly payments = $2,178
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $174
3.0% $177
4.0% $181
5.0% $184
6.0% $188
7.0% $192
8.0% $195
9.0% $199
10.0% $203
Payments by Amount Down
Down Monthly Payment
$0 $227
$500 $216
$1,000 $204
$1,500 $193
$2,000 $182
$2,500 $170
Payments by Loan Length
Length Payment
24 months $348
36 months $237
48 months $182
60 months $148
72 months $126
84 months $110

Can I afford a $10,000 car?

Is your salary enough to buy a $10,000 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 $10,000 vehicle, this would mean saving up $2,000.
  • 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 $10,000, you would need to make at least $25,000 per year.