$15,000 Car Loan

What's the monthly payment on a $15,000 car?
$
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%
Monthly payment = $272
Total yearly payments = $3,268
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $260
3.0% $266
4.0% $271
5.0% $276
6.0% $282
7.0% $287
8.0% $293
9.0% $299
10.0% $304
Payments by Amount Down
Down Monthly Payment
$0 $340
$1,000 $318
$2,000 $295
$3,000 $272
$4,000 $250
$5,000 $227
Payments by Loan Length
Length Payment
24 months $522
36 months $356
48 months $272
60 months $222
72 months $189
84 months $165

Can I afford a $15,000 car?

Is your salary enough to buy a $15,000 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 $15,000 vehicle, this would mean saving up $3,000.
  • 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 $15,000, you would need to make at least $37,500 per year.