$20,900 Car Loan

What's the monthly payment on a $20,900 car?
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Monthly payment = $379
Total yearly payments = $4,553
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $363
3.0% $370
4.0% $378
5.0% $385
6.0% $393
7.0% $400
8.0% $408
9.0% $416
10.0% $424
Payments by Amount Down
Down Monthly Payment
$0 $474
$1,000 $452
$2,500 $418
$5,000 $361
$7,500 $304
$10,000 $247
Payments by Loan Length
Length Payment
24 months $728
36 months $496
48 months $379
60 months $310
72 months $263
84 months $230

Can I afford a $20,900 car?

Is your salary enough to buy a $20,900 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 $20,900 vehicle, this would mean saving up $4,180.
  • 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 $20,900, you would need to make at least $52,250 per year.