$18,500 Car Loan

What's the monthly payment on a $18,500 car?
$
$
%
Monthly payment = $336
Total yearly payments = $4,030
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $321
3.0% $328
4.0% $334
5.0% $341
6.0% $348
7.0% $354
8.0% $361
9.0% $368
10.0% $375
Payments by Amount Down
Down Monthly Payment
$0 $420
$1,000 $397
$2,000 $374
$3,000 $352
$4,000 $329
$5,000 $306
Payments by Loan Length
Length Payment
24 months $644
36 months $439
48 months $336
60 months $274
72 months $233
84 months $204

Can I afford a $18,500 car?

Is your salary enough to buy a $18,500 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 $18,500 vehicle, this would mean saving up $3,700.
  • 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 $18,500, you would need to make at least $46,250 per year.