$1,800 Car Loan

What's the monthly payment on a $1,800 car?
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%
Monthly payment = $33
Total yearly payments = $392
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $31
3.0% $32
4.0% $33
5.0% $33
6.0% $34
7.0% $34
8.0% $35
9.0% $36
10.0% $37
Payments by Amount Down
Down Monthly Payment
$0 $41
$100 $39
$200 $36
$400 $32
$600 $27
$800 $23
Payments by Loan Length
Length Payment
24 months $63
36 months $43
48 months $33
60 months $27
72 months $23
84 months $20

Can I afford a $1,800 car?

Is your salary enough to buy a $1,800 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 $1,800 vehicle, this would mean saving up $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 $1,800, you would need to make at least $4,500 per year.