$29,400 Car Loan

What's the monthly payment on a $29,400 car?
$
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%
Monthly payment = $534
Total yearly payments = $6,404
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $510
3.0% $521
4.0% $531
5.0% $542
6.0% $552
7.0% $563
8.0% $574
9.0% $585
10.0% $597
Payments by Amount Down
Down Monthly Payment
$0 $667
$1,000 $644
$2,500 $610
$5,000 $554
$7,500 $497
$10,000 $440
Payments by Loan Length
Length Payment
24 months $1,024
36 months $697
48 months $534
60 months $436
72 months $371
84 months $324

Can I afford a $29,400 car?

Is your salary enough to buy a $29,400 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 $29,400 vehicle, this would mean saving up $5,880.
  • 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 $29,400, you would need to make at least $73,500 per year.