$18,400 Car Loan

What's the monthly payment on a $18,400 car?
$
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%
Monthly payment = $334
Total yearly payments = $4,008
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $319
3.0% $326
4.0% $332
5.0% $339
6.0% $346
7.0% $352
8.0% $359
9.0% $366
10.0% $373
Payments by Amount Down
Down Monthly Payment
$0 $418
$1,000 $395
$2,000 $372
$3,000 $349
$4,000 $327
$5,000 $304
Payments by Loan Length
Length Payment
24 months $641
36 months $436
48 months $334
60 months $273
72 months $232
84 months $203

Can I afford a $18,400 car?

Is your salary enough to buy a $18,400 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 $18,400 vehicle, this would mean saving up $3,680.
  • 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 $18,400, you would need to make at least $46,000 per year.