$29,800 Car Loan

What's the monthly payment on a $29,800 car?
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$
%
Monthly payment = $541
Total yearly payments = $6,491
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $517
3.0% $528
4.0% $538
5.0% $549
6.0% $560
7.0% $571
8.0% $582
9.0% $593
10.0% $605
Payments by Amount Down
Down Monthly Payment
$0 $676
$1,000 $654
$2,500 $619
$5,000 $563
$7,500 $506
$10,000 $449
Payments by Loan Length
Length Payment
24 months $1,038
36 months $707
48 months $541
60 months $442
72 months $376
84 months $329

Can I afford a $29,800 car?

Is your salary enough to buy a $29,800 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 $29,800 vehicle, this would mean saving up $5,960.
  • 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 $29,800, you would need to make at least $74,500 per year.