$16,900 Car Loan

What's the monthly payment on a $16,900 car?
$
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%
Monthly payment = $307
Total yearly payments = $3,681
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $293
3.0% $299
4.0% $305
5.0% $311
6.0% $318
7.0% $324
8.0% $330
9.0% $336
10.0% $343
Payments by Amount Down
Down Monthly Payment
$0 $383
$1,000 $361
$2,000 $338
$3,000 $315
$4,000 $293
$5,000 $270
Payments by Loan Length
Length Payment
24 months $589
36 months $401
48 months $307
60 months $251
72 months $213
84 months $186

Can I afford a $16,900 car?

Is your salary enough to buy a $16,900 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 $16,900 vehicle, this would mean saving up $3,380.
  • 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 $16,900, you would need to make at least $42,250 per year.