$11,700 Car Loan

What's the monthly payment on a $11,700 car?
$
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%
Monthly payment = $212
Total yearly payments = $2,549
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $203
3.0% $207
4.0% $211
5.0% $216
6.0% $220
7.0% $224
8.0% $229
9.0% $233
10.0% $237
Payments by Amount Down
Down Monthly Payment
$0 $265
$1,000 $243
$2,000 $220
$3,000 $197
$4,000 $175
$5,000 $152
Payments by Loan Length
Length Payment
24 months $407
36 months $277
48 months $212
60 months $173
72 months $148
84 months $129

Can I afford a $11,700 car?

Is your salary enough to buy a $11,700 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 $11,700 vehicle, this would mean saving up $2,340.
  • 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 $11,700, you would need to make at least $29,250 per year.