$27,400 Car Loan

What's the monthly payment on a $27,400 car?
$
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%
Monthly payment = $497
Total yearly payments = $5,969
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $476
3.0% $485
4.0% $495
5.0% $505
6.0% $515
7.0% $525
8.0% $535
9.0% $545
10.0% $556
Payments by Amount Down
Down Monthly Payment
$0 $622
$1,000 $599
$2,500 $565
$5,000 $508
$7,500 $452
$10,000 $395
Payments by Loan Length
Length Payment
24 months $954
36 months $650
48 months $497
60 months $406
72 months $345
84 months $302

Can I afford a $27,400 car?

Is your salary enough to buy a $27,400 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 $27,400 vehicle, this would mean saving up $5,480.
  • 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 $27,400, you would need to make at least $68,500 per year.