$24,600 Car Loan

What's the monthly payment on a $24,600 car?
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%
Monthly payment = $447
Total yearly payments = $5,359
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $427
3.0% $436
4.0% $444
5.0% $453
6.0% $462
7.0% $471
8.0% $480
9.0% $490
10.0% $499
Payments by Amount Down
Down Monthly Payment
$0 $558
$1,000 $536
$2,500 $501
$5,000 $445
$7,500 $388
$10,000 $331
Payments by Loan Length
Length Payment
24 months $857
36 months $583
48 months $447
60 months $365
72 months $310
84 months $271

Can I afford a $24,600 car?

Is your salary enough to buy a $24,600 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 $24,600 vehicle, this would mean saving up $4,920.
  • 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 $24,600, you would need to make at least $61,500 per year.