$1,700 Car Loan

What's the monthly payment on a $1,700 car?
$
$
%
Monthly payment = $31
Total yearly payments = $370
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $30
3.0% $30
4.0% $31
5.0% $31
6.0% $32
7.0% $33
8.0% $33
9.0% $34
10.0% $34
Payments by Amount Down
Down Monthly Payment
$0 $39
$100 $36
$200 $34
$400 $29
$600 $25
$800 $20
Payments by Loan Length
Length Payment
24 months $59
36 months $40
48 months $31
60 months $25
72 months $21
84 months $19

Can I afford a $1,700 car?

Is your salary enough to buy a $1,700 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 $1,700 vehicle, this would mean saving up $340.
  • 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 $1,700, you would need to make at least $4,250 per year.