$11,800 Car Loan

What's the monthly payment on a $11,800 car?
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Monthly payment = $214
Total yearly payments = $2,570
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $205
3.0% $209
4.0% $213
5.0% $217
6.0% $222
7.0% $226
8.0% $230
9.0% $235
10.0% $239
Payments by Amount Down
Down Monthly Payment
$0 $268
$1,000 $245
$2,000 $222
$3,000 $200
$4,000 $177
$5,000 $154
Payments by Loan Length
Length Payment
24 months $411
36 months $280
48 months $214
60 months $175
72 months $149
84 months $130

Can I afford a $11,800 car?

Is your salary enough to buy a $11,800 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 $11,800 vehicle, this would mean saving up $2,360.
  • 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 $11,800, you would need to make at least $29,500 per year.