$19,700 Car Loan

What's the monthly payment on a $19,700 car?
$
$
%
Monthly payment = $358
Total yearly payments = $4,291
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $342
3.0% $349
4.0% $356
5.0% $363
6.0% $370
7.0% $377
8.0% $385
9.0% $392
10.0% $400
Payments by Amount Down
Down Monthly Payment
$0 $447
$1,000 $424
$2,000 $402
$3,000 $379
$4,000 $356
$5,000 $334
Payments by Loan Length
Length Payment
24 months $686
36 months $467
48 months $358
60 months $292
72 months $248
84 months $217

Can I afford a $19,700 car?

Is your salary enough to buy a $19,700 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 $19,700 vehicle, this would mean saving up $3,940.
  • 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 $19,700, you would need to make at least $49,250 per year.