$18,600 Car Loan

What's the monthly payment on a $18,600 car?
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Monthly payment = $338
Total yearly payments = $4,052
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $323
3.0% $329
4.0% $336
5.0% $343
6.0% $349
7.0% $356
8.0% $363
9.0% $370
10.0% $377
Payments by Amount Down
Down Monthly Payment
$0 $422
$1,000 $399
$2,000 $377
$3,000 $354
$4,000 $331
$5,000 $309
Payments by Loan Length
Length Payment
24 months $648
36 months $441
48 months $338
60 months $276
72 months $234
84 months $205

Can I afford a $18,600 car?

Is your salary enough to buy a $18,600 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 $18,600 vehicle, this would mean saving up $3,720.
  • 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 $18,600, you would need to make at least $46,500 per year.