$27,700 Car Loan

What's the monthly payment on a $27,700 car?
$
$
%
Monthly payment = $503
Total yearly payments = $6,034
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $481
3.0% $490
4.0% $500
5.0% $510
6.0% $520
7.0% $531
8.0% $541
9.0% $551
10.0% $562
Payments by Amount Down
Down Monthly Payment
$0 $629
$1,000 $606
$2,500 $572
$5,000 $515
$7,500 $458
$10,000 $402
Payments by Loan Length
Length Payment
24 months $965
36 months $657
48 months $503
60 months $411
72 months $349
84 months $305

Can I afford a $27,700 car?

Is your salary enough to buy a $27,700 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 $27,700 vehicle, this would mean saving up $5,540.
  • 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 $27,700, you would need to make at least $69,250 per year.