$24,500 Car Loan

What's the monthly payment on a $24,500 car?
$
$
%
Monthly payment = $445
Total yearly payments = $5,337
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $425
3.0% $434
4.0% $443
5.0% $451
6.0% $460
7.0% $469
8.0% $478
9.0% $488
10.0% $497
Payments by Amount Down
Down Monthly Payment
$0 $556
$1,000 $533
$2,500 $499
$5,000 $442
$7,500 $386
$10,000 $329
Payments by Loan Length
Length Payment
24 months $853
36 months $581
48 months $445
60 months $363
72 months $309
84 months $270

Can I afford a $24,500 car?

Is your salary enough to buy a $24,500 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 $24,500 vehicle, this would mean saving up $4,900.
  • 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 $24,500, you would need to make at least $61,250 per year.