$22,000 Car Loan

What's the monthly payment on a $22,000 car?
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Monthly payment = $399
Total yearly payments = $4,792
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $382
3.0% $390
4.0% $397
5.0% $405
6.0% $413
7.0% $421
8.0% $430
9.0% $438
10.0% $446
Payments by Amount Down
Down Monthly Payment
$0 $499
$1,000 $477
$2,500 $442
$5,000 $386
$7,500 $329
$10,000 $272
Payments by Loan Length
Length Payment
24 months $766
36 months $522
48 months $399
60 months $326
72 months $277
84 months $243

Can I afford a $22,000 car?

Is your salary enough to buy a $22,000 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 $22,000 vehicle, this would mean saving up $4,400.
  • 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 $22,000, you would need to make at least $55,000 per year.