$31,900 Car Loan

What's the monthly payment on a $31,900 car?
$
$
%
Monthly payment = $579
Total yearly payments = $6,949
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $554
3.0% $565
4.0% $576
5.0% $588
6.0% $599
7.0% $611
8.0% $623
9.0% $635
10.0% $647
Payments by Amount Down
Down Monthly Payment
$0 $724
$2,000 $678
$5,000 $610
$8,000 $542
$10,000 $497
$15,000 $383
Payments by Loan Length
Length Payment
24 months $1,111
36 months $756
48 months $579
60 months $473
72 months $402
84 months $352

Can I afford a $31,900 car?

Is your salary enough to buy a $31,900 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 $31,900 vehicle, this would mean saving up $6,380.
  • 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 $31,900, you would need to make at least $79,750 per year.