$21,800 Car Loan

What's the monthly payment on a $21,800 car?
$
$
%
Monthly payment = $396
Total yearly payments = $4,749
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $378
3.0% $386
4.0% $394
5.0% $402
6.0% $410
7.0% $418
8.0% $426
9.0% $434
10.0% $442
Payments by Amount Down
Down Monthly Payment
$0 $495
$1,000 $472
$2,500 $438
$5,000 $381
$7,500 $324
$10,000 $268
Payments by Loan Length
Length Payment
24 months $759
36 months $517
48 months $396
60 months $323
72 months $275
84 months $240

Can I afford a $21,800 car?

Is your salary enough to buy a $21,800 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 $21,800 vehicle, this would mean saving up $4,360.
  • 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 $21,800, you would need to make at least $54,500 per year.