$17,000 Car Loan

What's the monthly payment on a $17,000 car?
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%
Monthly payment = $309
Total yearly payments = $3,703
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $295
3.0% $301
4.0% $307
5.0% $313
6.0% $319
7.0% $326
8.0% $332
9.0% $338
10.0% $345
Payments by Amount Down
Down Monthly Payment
$0 $386
$1,000 $363
$2,000 $340
$3,000 $318
$4,000 $295
$5,000 $272
Payments by Loan Length
Length Payment
24 months $592
36 months $403
48 months $309
60 months $252
72 months $214
84 months $187

Can I afford a $17,000 car?

Is your salary enough to buy a $17,000 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 $17,000 vehicle, this would mean saving up $3,400.
  • 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 $17,000, you would need to make at least $42,500 per year.