$20,100 Car Loan

What's the monthly payment on a $20,100 car?
$
$
%
Monthly payment = $365
Total yearly payments = $4,378
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $349
3.0% $356
4.0% $363
5.0% $370
6.0% $378
7.0% $385
8.0% $393
9.0% $400
10.0% $408
Payments by Amount Down
Down Monthly Payment
$0 $456
$1,000 $433
$2,500 $399
$5,000 $343
$7,500 $286
$10,000 $229
Payments by Loan Length
Length Payment
24 months $700
36 months $477
48 months $365
60 months $298
72 months $253
84 months $222

Can I afford a $20,100 car?

Is your salary enough to buy a $20,100 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 $20,100 vehicle, this would mean saving up $4,020.
  • 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 $20,100, you would need to make at least $50,250 per year.