$21,400 Car Loan

What's the monthly payment on a $21,400 car?
$
$
%
Monthly payment = $388
Total yearly payments = $4,662
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $371
3.0% $379
4.0% $387
5.0% $394
6.0% $402
7.0% $410
8.0% $418
9.0% $426
10.0% $434
Payments by Amount Down
Down Monthly Payment
$0 $486
$1,000 $463
$2,500 $429
$5,000 $372
$7,500 $315
$10,000 $259
Payments by Loan Length
Length Payment
24 months $745
36 months $507
48 months $388
60 months $317
72 months $270
84 months $236

Can I afford a $21,400 car?

Is your salary enough to buy a $21,400 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 $21,400 vehicle, this would mean saving up $4,280.
  • 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 $21,400, you would need to make at least $53,500 per year.