$30,700 Car Loan

What's the monthly payment on a $30,700 car?
$
$
%
Monthly payment = $557
Total yearly payments = $6,688
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $533
3.0% $544
4.0% $555
5.0% $566
6.0% $577
7.0% $588
8.0% $600
9.0% $611
10.0% $623
Payments by Amount Down
Down Monthly Payment
$0 $697
$2,000 $651
$5,000 $583
$8,000 $515
$10,000 $470
$15,000 $356
Payments by Loan Length
Length Payment
24 months $1,069
36 months $728
48 months $557
60 months $455
72 months $387
84 months $339

Can I afford a $30,700 car?

Is your salary enough to buy a $30,700 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 $30,700 vehicle, this would mean saving up $6,140.
  • 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 $30,700, you would need to make at least $76,750 per year.