$19,500 Car Loan

What's the monthly payment on a $19,500 car?
$
$
%
Monthly payment = $354
Total yearly payments = $4,248
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $338
3.0% $345
4.0% $352
5.0% $359
6.0% $366
7.0% $374
8.0% $381
9.0% $388
10.0% $396
Payments by Amount Down
Down Monthly Payment
$0 $442
$1,000 $420
$2,000 $397
$3,000 $374
$4,000 $352
$5,000 $329
Payments by Loan Length
Length Payment
24 months $679
36 months $462
48 months $354
60 months $289
72 months $246
84 months $215

Can I afford a $19,500 car?

Is your salary enough to buy a $19,500 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 $19,500 vehicle, this would mean saving up $3,900.
  • 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 $19,500, you would need to make at least $48,750 per year.