$1,400 Car Loan

What's the monthly payment on a $1,400 car?
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%
Monthly payment = $25
Total yearly payments = $305
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $24
3.0% $25
4.0% $25
5.0% $26
6.0% $26
7.0% $27
8.0% $27
9.0% $28
10.0% $28
Payments by Amount Down
Down Monthly Payment
$0 $32
$100 $29
$200 $27
$400 $23
$600 $18
$800 $14
Payments by Loan Length
Length Payment
24 months $49
36 months $33
48 months $25
60 months $21
72 months $18
84 months $15

Can I afford a $1,400 car?

Is your salary enough to buy a $1,400 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 $1,400 vehicle, this would mean saving up $280.
  • 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 $1,400, you would need to make at least $3,500 per year.