$12,500 Car Loan

What's the monthly payment on a $12,500 car?
$
$
%
Monthly payment = $227
Total yearly payments = $2,723
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $217
3.0% $221
4.0% $226
5.0% $230
6.0% $235
7.0% $239
8.0% $244
9.0% $249
10.0% $254
Payments by Amount Down
Down Monthly Payment
$0 $284
$1,000 $261
$2,000 $238
$3,000 $216
$4,000 $193
$5,000 $170
Payments by Loan Length
Length Payment
24 months $435
36 months $296
48 months $227
60 months $185
72 months $158
84 months $138

Can I afford a $12,500 car?

Is your salary enough to buy a $12,500 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 $12,500 vehicle, this would mean saving up $2,500.
  • 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 $12,500, you would need to make at least $31,250 per year.