$23,900 Car Loan

What's the monthly payment on a $23,900 car?
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Monthly payment = $434
Total yearly payments = $5,206
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $415
3.0% $423
4.0% $432
5.0% $440
6.0% $449
7.0% $458
8.0% $467
9.0% $476
10.0% $485
Payments by Amount Down
Down Monthly Payment
$0 $542
$1,000 $520
$2,500 $486
$5,000 $429
$7,500 $372
$10,000 $315
Payments by Loan Length
Length Payment
24 months $832
36 months $567
48 months $434
60 months $354
72 months $301
84 months $264

Can I afford a $23,900 car?

Is your salary enough to buy a $23,900 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 $23,900 vehicle, this would mean saving up $4,780.
  • 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 $23,900, you would need to make at least $59,750 per year.