$16,600 Car Loan

What's the monthly payment on a $16,600 car?
$
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%
Monthly payment = $301
Total yearly payments = $3,616
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $288
3.0% $294
4.0% $300
5.0% $306
6.0% $312
7.0% $318
8.0% $324
9.0% $330
10.0% $337
Payments by Amount Down
Down Monthly Payment
$0 $377
$1,000 $354
$2,000 $331
$3,000 $309
$4,000 $286
$5,000 $263
Payments by Loan Length
Length Payment
24 months $578
36 months $394
48 months $301
60 months $246
72 months $209
84 months $183

Can I afford a $16,600 car?

Is your salary enough to buy a $16,600 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 $16,600 vehicle, this would mean saving up $3,320.
  • 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 $16,600, you would need to make at least $41,500 per year.