$15,800 Car Loan

What's the monthly payment on a $15,800 car?
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%
Monthly payment = $287
Total yearly payments = $3,442
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $274
3.0% $280
4.0% $285
5.0% $291
6.0% $297
7.0% $303
8.0% $309
9.0% $315
10.0% $321
Payments by Amount Down
Down Monthly Payment
$0 $359
$1,000 $336
$2,000 $313
$3,000 $290
$4,000 $268
$5,000 $245
Payments by Loan Length
Length Payment
24 months $550
36 months $375
48 months $287
60 months $234
72 months $199
84 months $174

Can I afford a $15,800 car?

Is your salary enough to buy a $15,800 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 $15,800 vehicle, this would mean saving up $3,160.
  • 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 $15,800, you would need to make at least $39,500 per year.