$20,800 Car Loan

What's the monthly payment on a $20,800 car?
$
$
%
Monthly payment = $378
Total yearly payments = $4,531
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $361
3.0% $368
4.0% $376
5.0% $383
6.0% $391
7.0% $398
8.0% $406
9.0% $414
10.0% $422
Payments by Amount Down
Down Monthly Payment
$0 $472
$1,000 $449
$2,500 $415
$5,000 $359
$7,500 $302
$10,000 $245
Payments by Loan Length
Length Payment
24 months $724
36 months $493
48 months $378
60 months $308
72 months $262
84 months $229

Can I afford a $20,800 car?

Is your salary enough to buy a $20,800 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 $20,800 vehicle, this would mean saving up $4,160.
  • 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 $20,800, you would need to make at least $52,000 per year.