$23,300 Car Loan

What's the monthly payment on a $23,300 car?
$
$
%
Monthly payment = $423
Total yearly payments = $5,076
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $404
3.0% $413
4.0% $421
5.0% $429
6.0% $438
7.0% $446
8.0% $455
9.0% $464
10.0% $473
Payments by Amount Down
Down Monthly Payment
$0 $529
$1,000 $506
$2,500 $472
$5,000 $415
$7,500 $359
$10,000 $302
Payments by Loan Length
Length Payment
24 months $812
36 months $552
48 months $423
60 months $345
72 months $294
84 months $257

Can I afford a $23,300 car?

Is your salary enough to buy a $23,300 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 $23,300 vehicle, this would mean saving up $4,660.
  • 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 $23,300, you would need to make at least $58,250 per year.