$23,100 Car Loan

What's the monthly payment on a $23,100 car?
$
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%
Monthly payment = $419
Total yearly payments = $5,032
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $401
3.0% $409
4.0% $417
5.0% $426
6.0% $434
7.0% $443
8.0% $451
9.0% $460
10.0% $469
Payments by Amount Down
Down Monthly Payment
$0 $524
$1,000 $501
$2,500 $467
$5,000 $411
$7,500 $354
$10,000 $297
Payments by Loan Length
Length Payment
24 months $805
36 months $548
48 months $419
60 months $342
72 months $291
84 months $255

Can I afford a $23,100 car?

Is your salary enough to buy a $23,100 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 $23,100 vehicle, this would mean saving up $4,620.
  • 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 $23,100, you would need to make at least $57,750 per year.