$21,200 Car Loan

What's the monthly payment on a $21,200 car?
$
$
%
Monthly payment = $385
Total yearly payments = $4,618
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $368
3.0% $375
4.0% $383
5.0% $391
6.0% $398
7.0% $406
8.0% $414
9.0% $422
10.0% $430
Payments by Amount Down
Down Monthly Payment
$0 $481
$1,000 $458
$2,500 $424
$5,000 $368
$7,500 $311
$10,000 $254
Payments by Loan Length
Length Payment
24 months $738
36 months $503
48 months $385
60 months $314
72 months $267
84 months $234

Can I afford a $21,200 car?

Is your salary enough to buy a $21,200 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 $21,200 vehicle, this would mean saving up $4,240.
  • 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 $21,200, you would need to make at least $53,000 per year.