$31,800 Car Loan

What's the monthly payment on a $31,800 car?
$
$
%
Monthly payment = $577
Total yearly payments = $6,927
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $552
3.0% $563
4.0% $574
5.0% $586
6.0% $597
7.0% $609
8.0% $621
9.0% $633
10.0% $645
Payments by Amount Down
Down Monthly Payment
$0 $722
$2,000 $676
$5,000 $608
$8,000 $540
$10,000 $495
$15,000 $381
Payments by Loan Length
Length Payment
24 months $1,108
36 months $754
48 months $577
60 months $471
72 months $401
84 months $351

Can I afford a $31,800 car?

Is your salary enough to buy a $31,800 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 $31,800 vehicle, this would mean saving up $6,360.
  • 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 $31,800, you would need to make at least $79,500 per year.