$23,600 Car Loan

What's the monthly payment on a $23,600 car?
$
$
%
Monthly payment = $428
Total yearly payments = $5,141
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $410
3.0% $418
4.0% $426
5.0% $435
6.0% $443
7.0% $452
8.0% $461
9.0% $470
10.0% $479
Payments by Amount Down
Down Monthly Payment
$0 $536
$1,000 $513
$2,500 $479
$5,000 $422
$7,500 $365
$10,000 $309
Payments by Loan Length
Length Payment
24 months $822
36 months $560
48 months $428
60 months $350
72 months $298
84 months $260

Can I afford a $23,600 car?

Is your salary enough to buy a $23,600 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 $23,600 vehicle, this would mean saving up $4,720.
  • 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 $23,600, you would need to make at least $59,000 per year.