$21,700 Car Loan

What's the monthly payment on a $21,700 car?
$
$
%
Monthly payment = $394
Total yearly payments = $4,727
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $377
3.0% $384
4.0% $392
5.0% $400
6.0% $408
7.0% $416
8.0% $424
9.0% $432
10.0% $440
Payments by Amount Down
Down Monthly Payment
$0 $492
$1,000 $470
$2,500 $436
$5,000 $379
$7,500 $322
$10,000 $265
Payments by Loan Length
Length Payment
24 months $756
36 months $514
48 months $394
60 months $322
72 months $274
84 months $239

Can I afford a $21,700 car?

Is your salary enough to buy a $21,700 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 $21,700 vehicle, this would mean saving up $4,340.
  • 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 $21,700, you would need to make at least $54,250 per year.