$28,100 Car Loan

What's the monthly payment on a $28,100 car?
$
$
%
Monthly payment = $510
Total yearly payments = $6,121
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $488
3.0% $498
4.0% $508
5.0% $518
6.0% $528
7.0% $538
8.0% $549
9.0% $559
10.0% $570
Payments by Amount Down
Down Monthly Payment
$0 $638
$1,000 $615
$2,500 $581
$5,000 $524
$7,500 $467
$10,000 $411
Payments by Loan Length
Length Payment
24 months $979
36 months $666
48 months $510
60 months $417
72 months $354
84 months $310

Can I afford a $28,100 car?

Is your salary enough to buy a $28,100 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 $28,100 vehicle, this would mean saving up $5,620.
  • 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 $28,100, you would need to make at least $70,250 per year.