$27,500 Car Loan

What's the monthly payment on a $27,500 car?
$
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%
Monthly payment = $499
Total yearly payments = $5,990
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $477
3.0% $487
4.0% $497
5.0% $507
6.0% $517
7.0% $527
8.0% $537
9.0% $547
10.0% $558
Payments by Amount Down
Down Monthly Payment
$0 $624
$1,000 $601
$2,500 $567
$5,000 $511
$7,500 $454
$10,000 $397
Payments by Loan Length
Length Payment
24 months $958
36 months $652
48 months $499
60 months $408
72 months $347
84 months $303

Can I afford a $27,500 car?

Is your salary enough to buy a $27,500 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 $27,500 vehicle, this would mean saving up $5,500.
  • 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 $27,500, you would need to make at least $68,750 per year.