$21,600 Car Loan

What's the monthly payment on a $21,600 car?
$
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%
Monthly payment = $392
Total yearly payments = $4,705
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $375
3.0% $382
4.0% $390
5.0% $398
6.0% $406
7.0% $414
8.0% $422
9.0% $430
10.0% $438
Payments by Amount Down
Down Monthly Payment
$0 $490
$1,000 $467
$2,500 $433
$5,000 $377
$7,500 $320
$10,000 $263
Payments by Loan Length
Length Payment
24 months $752
36 months $512
48 months $392
60 months $320
72 months $272
84 months $238

Can I afford a $21,600 car?

Is your salary enough to buy a $21,600 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 $21,600 vehicle, this would mean saving up $4,320.
  • 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 $21,600, you would need to make at least $54,000 per year.