$2,400 Car Loan

What's the monthly payment on a $2,400 car?
$
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%
Monthly payment = $44
Total yearly payments = $523
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $42
3.0% $42
4.0% $43
5.0% $44
6.0% $45
7.0% $46
8.0% $47
9.0% $48
10.0% $49
Payments by Amount Down
Down Monthly Payment
$0 $54
$200 $50
$400 $45
$800 $36
$1,200 $27
$2,000 $9
Payments by Loan Length
Length Payment
24 months $84
36 months $57
48 months $44
60 months $36
72 months $30
84 months $26

Can I afford a $2,400 car?

Is your salary enough to buy a $2,400 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 $2,400 vehicle, this would mean saving up $480.
  • 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 $2,400, you would need to make at least $6,000 per year.