$30,200 Car Loan

What's the monthly payment on a $30,200 car?
$
$
%
Monthly payment = $548
Total yearly payments = $6,579
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $524
3.0% $535
4.0% $546
5.0% $556
6.0% $567
7.0% $579
8.0% $590
9.0% $601
10.0% $613
Payments by Amount Down
Down Monthly Payment
$0 $685
$2,000 $640
$5,000 $572
$8,000 $504
$10,000 $458
$15,000 $345
Payments by Loan Length
Length Payment
24 months $1,052
36 months $716
48 months $548
60 months $448
72 months $381
84 months $333

Can I afford a $30,200 car?

Is your salary enough to buy a $30,200 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 $30,200 vehicle, this would mean saving up $6,040.
  • 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 $30,200, you would need to make at least $75,500 per year.