$29,500 Car Loan

What's the monthly payment on a $29,500 car?
$
$
%
Monthly payment = $536
Total yearly payments = $6,426
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $512
3.0% $522
4.0% $533
5.0% $543
6.0% $554
7.0% $565
8.0% $576
9.0% $587
10.0% $599
Payments by Amount Down
Down Monthly Payment
$0 $669
$1,000 $647
$2,500 $613
$5,000 $556
$7,500 $499
$10,000 $442
Payments by Loan Length
Length Payment
24 months $1,027
36 months $699
48 months $536
60 months $437
72 months $372
84 months $325

Can I afford a $29,500 car?

Is your salary enough to buy a $29,500 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 $29,500 vehicle, this would mean saving up $5,900.
  • 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 $29,500, you would need to make at least $73,750 per year.