$17,500 Car Loan

What's the monthly payment on a $17,500 car?
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%
Monthly payment = $318
Total yearly payments = $3,812
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $304
3.0% $310
4.0% $316
5.0% $322
6.0% $329
7.0% $335
8.0% $342
9.0% $348
10.0% $355
Payments by Amount Down
Down Monthly Payment
$0 $397
$1,000 $374
$2,000 $352
$3,000 $329
$4,000 $306
$5,000 $284
Payments by Loan Length
Length Payment
24 months $610
36 months $415
48 months $318
60 months $259
72 months $221
84 months $193

Can I afford a $17,500 car?

Is your salary enough to buy a $17,500 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 $17,500 vehicle, this would mean saving up $3,500.
  • 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 $17,500, you would need to make at least $43,750 per year.