$18,800 Car Loan

What's the monthly payment on a $18,800 car?
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Monthly payment = $341
Total yearly payments = $4,095
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $326
3.0% $333
4.0% $340
5.0% $346
6.0% $353
7.0% $360
8.0% $367
9.0% $374
10.0% $381
Payments by Amount Down
Down Monthly Payment
$0 $427
$1,000 $404
$2,000 $381
$3,000 $359
$4,000 $336
$5,000 $313
Payments by Loan Length
Length Payment
24 months $655
36 months $446
48 months $341
60 months $279
72 months $237
84 months $207

Can I afford a $18,800 car?

Is your salary enough to buy a $18,800 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 $18,800 vehicle, this would mean saving up $3,760.
  • 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 $18,800, you would need to make at least $47,000 per year.