$11,500 Car Loan

What's the monthly payment on a $11,500 car?
$
$
%
Monthly payment = $209
Total yearly payments = $2,505
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $200
3.0% $204
4.0% $208
5.0% $212
6.0% $216
7.0% $220
8.0% $225
9.0% $229
10.0% $233
Payments by Amount Down
Down Monthly Payment
$0 $261
$1,000 $238
$2,000 $216
$3,000 $193
$4,000 $170
$5,000 $147
Payments by Loan Length
Length Payment
24 months $401
36 months $273
48 months $209
60 months $170
72 months $145
84 months $127

Can I afford a $11,500 car?

Is your salary enough to buy a $11,500 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 $11,500 vehicle, this would mean saving up $2,300.
  • 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 $11,500, you would need to make at least $28,750 per year.