$18,700 Car Loan

What's the monthly payment on a $18,700 car?
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%
Monthly payment = $339
Total yearly payments = $4,074
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $325
3.0% $331
4.0% $338
5.0% $345
6.0% $351
7.0% $358
8.0% $365
9.0% $372
10.0% $379
Payments by Amount Down
Down Monthly Payment
$0 $424
$1,000 $402
$2,000 $379
$3,000 $356
$4,000 $334
$5,000 $311
Payments by Loan Length
Length Payment
24 months $651
36 months $443
48 months $339
60 months $277
72 months $236
84 months $206

Can I afford a $18,700 car?

Is your salary enough to buy a $18,700 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 $18,700 vehicle, this would mean saving up $3,740.
  • 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 $18,700, you would need to make at least $46,750 per year.