$29,600 Car Loan

What's the monthly payment on a $29,600 car?
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%
Monthly payment = $537
Total yearly payments = $6,448
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $514
3.0% $524
4.0% $535
5.0% $545
6.0% $556
7.0% $567
8.0% $578
9.0% $589
10.0% $601
Payments by Amount Down
Down Monthly Payment
$0 $672
$1,000 $649
$2,500 $615
$5,000 $558
$7,500 $501
$10,000 $445
Payments by Loan Length
Length Payment
24 months $1,031
36 months $702
48 months $537
60 months $439
72 months $373
84 months $326

Can I afford a $29,600 car?

Is your salary enough to buy a $29,600 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 $29,600 vehicle, this would mean saving up $5,920.
  • 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 $29,600, you would need to make at least $74,000 per year.