$24,200 Car Loan

What's the monthly payment on a $24,200 car?
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%
Monthly payment = $439
Total yearly payments = $5,272
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $420
3.0% $429
4.0% $437
5.0% $446
6.0% $455
7.0% $464
8.0% $473
9.0% $482
10.0% $491
Payments by Amount Down
Down Monthly Payment
$0 $549
$1,000 $526
$2,500 $492
$5,000 $436
$7,500 $379
$10,000 $322
Payments by Loan Length
Length Payment
24 months $843
36 months $574
48 months $439
60 months $359
72 months $305
84 months $267

Can I afford a $24,200 car?

Is your salary enough to buy a $24,200 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 $24,200 vehicle, this would mean saving up $4,840.
  • 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 $24,200, you would need to make at least $60,500 per year.