$12,600 Car Loan

What's the monthly payment on a $12,600 car?
$
$
%
Monthly payment = $229
Total yearly payments = $2,745
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $219
3.0% $223
4.0% $228
5.0% $232
6.0% $237
7.0% $241
8.0% $246
9.0% $251
10.0% $256
Payments by Amount Down
Down Monthly Payment
$0 $286
$1,000 $263
$2,000 $241
$3,000 $218
$4,000 $195
$5,000 $172
Payments by Loan Length
Length Payment
24 months $439
36 months $299
48 months $229
60 months $187
72 months $159
84 months $139

Can I afford a $12,600 car?

Is your salary enough to buy a $12,600 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 $12,600 vehicle, this would mean saving up $2,520.
  • 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 $12,600, you would need to make at least $31,500 per year.