$24,300 Car Loan

What's the monthly payment on a $24,300 car?
$
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%
Monthly payment = $441
Total yearly payments = $5,293
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $422
3.0% $430
4.0% $439
5.0% $448
6.0% $457
7.0% $466
8.0% $475
9.0% $484
10.0% $493
Payments by Amount Down
Down Monthly Payment
$0 $551
$1,000 $529
$2,500 $495
$5,000 $438
$7,500 $381
$10,000 $324
Payments by Loan Length
Length Payment
24 months $846
36 months $576
48 months $441
60 months $360
72 months $306
84 months $268

Can I afford a $24,300 car?

Is your salary enough to buy a $24,300 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 $24,300 vehicle, this would mean saving up $4,860.
  • 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 $24,300, you would need to make at least $60,750 per year.