$16,800 Car Loan

What's the monthly payment on a $16,800 car?
$
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%
Monthly payment = $305
Total yearly payments = $3,660
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $292
3.0% $297
4.0% $303
5.0% $310
6.0% $316
7.0% $322
8.0% $328
9.0% $334
10.0% $341
Payments by Amount Down
Down Monthly Payment
$0 $381
$1,000 $359
$2,000 $336
$3,000 $313
$4,000 $290
$5,000 $268
Payments by Loan Length
Length Payment
24 months $585
36 months $398
48 months $305
60 months $249
72 months $212
84 months $185

Can I afford a $16,800 car?

Is your salary enough to buy a $16,800 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 $16,800 vehicle, this would mean saving up $3,360.
  • 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 $16,800, you would need to make at least $42,000 per year.