$11,300 Car Loan

What's the monthly payment on a $11,300 car?
$
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%
Monthly payment = $205
Total yearly payments = $2,462
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $196
3.0% $200
4.0% $204
5.0% $208
6.0% $212
7.0% $216
8.0% $221
9.0% $225
10.0% $229
Payments by Amount Down
Down Monthly Payment
$0 $256
$1,000 $234
$2,000 $211
$3,000 $188
$4,000 $166
$5,000 $143
Payments by Loan Length
Length Payment
24 months $394
36 months $268
48 months $205
60 months $168
72 months $142
84 months $125

Can I afford a $11,300 car?

Is your salary enough to buy a $11,300 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 $11,300 vehicle, this would mean saving up $2,260.
  • 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 $11,300, you would need to make at least $28,250 per year.