$12,900 Car Loan

What's the monthly payment on a $12,900 car?
$
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%
Monthly payment = $234
Total yearly payments = $2,810
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $224
3.0% $228
4.0% $233
5.0% $238
6.0% $242
7.0% $247
8.0% $252
9.0% $257
10.0% $262
Payments by Amount Down
Down Monthly Payment
$0 $293
$1,000 $270
$2,000 $247
$3,000 $225
$4,000 $202
$5,000 $179
Payments by Loan Length
Length Payment
24 months $449
36 months $306
48 months $234
60 months $191
72 months $163
84 months $142

Can I afford a $12,900 car?

Is your salary enough to buy a $12,900 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 $12,900 vehicle, this would mean saving up $2,580.
  • 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 $12,900, you would need to make at least $32,250 per year.