$11,600 Car Loan

What's the monthly payment on a $11,600 car?
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%
Monthly payment = $211
Total yearly payments = $2,527
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $201
3.0% $205
4.0% $210
5.0% $214
6.0% $218
7.0% $222
8.0% $227
9.0% $231
10.0% $235
Payments by Amount Down
Down Monthly Payment
$0 $263
$1,000 $241
$2,000 $218
$3,000 $195
$4,000 $172
$5,000 $150
Payments by Loan Length
Length Payment
24 months $404
36 months $275
48 months $211
60 months $172
72 months $146
84 months $128

Can I afford a $11,600 car?

Is your salary enough to buy a $11,600 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 $11,600 vehicle, this would mean saving up $2,320.
  • 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 $11,600, you would need to make at least $29,000 per year.