$18,000 Car Loan

What's the monthly payment on a $18,000 car?
$
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%
Monthly payment = $327
Total yearly payments = $3,921
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $312
3.0% $319
4.0% $325
5.0% $332
6.0% $338
7.0% $345
8.0% $352
9.0% $358
10.0% $365
Payments by Amount Down
Down Monthly Payment
$0 $408
$1,000 $386
$2,000 $363
$3,000 $340
$4,000 $318
$5,000 $295
Payments by Loan Length
Length Payment
24 months $627
36 months $427
48 months $327
60 months $267
72 months $227
84 months $198

Can I afford a $18,000 car?

Is your salary enough to buy a $18,000 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 $18,000 vehicle, this would mean saving up $3,600.
  • 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 $18,000, you would need to make at least $45,000 per year.