$12,800 Car Loan

What's the monthly payment on a $12,800 car?
$
$
%
Monthly payment = $232
Total yearly payments = $2,788
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $222
3.0% $227
4.0% $231
5.0% $236
6.0% $240
7.0% $245
8.0% $250
9.0% $255
10.0% $260
Payments by Amount Down
Down Monthly Payment
$0 $290
$1,000 $268
$2,000 $245
$3,000 $222
$4,000 $200
$5,000 $177
Payments by Loan Length
Length Payment
24 months $446
36 months $303
48 months $232
60 months $190
72 months $161
84 months $141

Can I afford a $12,800 car?

Is your salary enough to buy a $12,800 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 $12,800 vehicle, this would mean saving up $2,560.
  • 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 $12,800, you would need to make at least $32,000 per year.