$24,400 Car Loan

What's the monthly payment on a $24,400 car?
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%
Monthly payment = $443
Total yearly payments = $5,315
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $423
3.0% $432
4.0% $441
5.0% $450
6.0% $458
7.0% $467
8.0% $477
9.0% $486
10.0% $495
Payments by Amount Down
Down Monthly Payment
$0 $554
$1,000 $531
$2,500 $497
$5,000 $440
$7,500 $383
$10,000 $327
Payments by Loan Length
Length Payment
24 months $850
36 months $578
48 months $443
60 months $362
72 months $308
84 months $269

Can I afford a $24,400 car?

Is your salary enough to buy a $24,400 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 $24,400 vehicle, this would mean saving up $4,880.
  • 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 $24,400, you would need to make at least $61,000 per year.