$10,700 Car Loan

What's the monthly payment on a $10,700 car?
$
$
%
Monthly payment = $194
Total yearly payments = $2,331
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $186
3.0% $189
4.0% $193
5.0% $197
6.0% $201
7.0% $205
8.0% $209
9.0% $213
10.0% $217
Payments by Amount Down
Down Monthly Payment
$0 $243
$1,000 $220
$2,000 $197
$3,000 $175
$4,000 $152
$5,000 $129
Payments by Loan Length
Length Payment
24 months $373
36 months $254
48 months $194
60 months $159
72 months $135
84 months $118

Can I afford a $10,700 car?

Is your salary enough to buy a $10,700 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 $10,700 vehicle, this would mean saving up $2,140.
  • 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 $10,700, you would need to make at least $26,750 per year.