$23,800 Car Loan

What's the monthly payment on a $23,800 car?
$
$
%
Monthly payment = $432
Total yearly payments = $5,184
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $413
3.0% $421
4.0% $430
5.0% $438
6.0% $447
7.0% $456
8.0% $465
9.0% $474
10.0% $483
Payments by Amount Down
Down Monthly Payment
$0 $540
$1,000 $517
$2,500 $483
$5,000 $427
$7,500 $370
$10,000 $313
Payments by Loan Length
Length Payment
24 months $829
36 months $564
48 months $432
60 months $353
72 months $300
84 months $262

Can I afford a $23,800 car?

Is your salary enough to buy a $23,800 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 $23,800 vehicle, this would mean saving up $4,760.
  • 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 $23,800, you would need to make at least $59,500 per year.