$30,400 Car Loan

What's the monthly payment on a $30,400 car?
$
$
%
Monthly payment = $552
Total yearly payments = $6,622
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $528
3.0% $538
4.0% $549
5.0% $560
6.0% $571
7.0% $582
8.0% $594
9.0% $605
10.0% $617
Payments by Amount Down
Down Monthly Payment
$0 $690
$2,000 $644
$5,000 $576
$8,000 $508
$10,000 $463
$15,000 $349
Payments by Loan Length
Length Payment
24 months $1,059
36 months $721
48 months $552
60 months $451
72 months $383
84 months $335

Can I afford a $30,400 car?

Is your salary enough to buy a $30,400 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 $30,400 vehicle, this would mean saving up $6,080.
  • 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 $30,400, you would need to make at least $76,000 per year.