$28,900 Car Loan

What's the monthly payment on a $28,900 car?
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Monthly payment = $525
Total yearly payments = $6,295
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $502
3.0% $512
4.0% $522
5.0% $532
6.0% $543
7.0% $554
8.0% $564
9.0% $575
10.0% $586
Payments by Amount Down
Down Monthly Payment
$0 $656
$1,000 $633
$2,500 $599
$5,000 $542
$7,500 $486
$10,000 $429
Payments by Loan Length
Length Payment
24 months $1,007
36 months $685
48 months $525
60 months $428
72 months $364
84 months $319

Can I afford a $28,900 car?

Is your salary enough to buy a $28,900 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 $28,900 vehicle, this would mean saving up $5,780.
  • 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 $28,900, you would need to make at least $72,250 per year.