$21,000 Car Loan

What's the monthly payment on a $21,000 car?
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%
Monthly payment = $381
Total yearly payments = $4,575
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $364
3.0% $372
4.0% $379
5.0% $387
6.0% $395
7.0% $402
8.0% $410
9.0% $418
10.0% $426
Payments by Amount Down
Down Monthly Payment
$0 $477
$1,000 $454
$2,500 $420
$5,000 $363
$7,500 $306
$10,000 $250
Payments by Loan Length
Length Payment
24 months $731
36 months $498
48 months $381
60 months $311
72 months $265
84 months $232

Can I afford a $21,000 car?

Is your salary enough to buy a $21,000 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 $21,000 vehicle, this would mean saving up $4,200.
  • 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 $21,000, you would need to make at least $52,500 per year.