$15,700 Car Loan

What's the monthly payment on a $15,700 car?
$
$
%
Monthly payment = $285
Total yearly payments = $3,420
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $272
3.0% $278
4.0% $284
5.0% $289
6.0% $295
7.0% $301
8.0% $307
9.0% $313
10.0% $319
Payments by Amount Down
Down Monthly Payment
$0 $356
$1,000 $334
$2,000 $311
$3,000 $288
$4,000 $265
$5,000 $243
Payments by Loan Length
Length Payment
24 months $547
36 months $372
48 months $285
60 months $233
72 months $198
84 months $173

Can I afford a $15,700 car?

Is your salary enough to buy a $15,700 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 $15,700 vehicle, this would mean saving up $3,140.
  • 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 $15,700, you would need to make at least $39,250 per year.