$32,000 Car Loan

What's the monthly payment on a $32,000 car?
$
$
%
Monthly payment = $581
Total yearly payments = $6,971
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $555
3.0% $567
4.0% $578
5.0% $590
6.0% $601
7.0% $613
8.0% $625
9.0% $637
10.0% $649
Payments by Amount Down
Down Monthly Payment
$0 $726
$2,000 $681
$5,000 $613
$8,000 $545
$10,000 $499
$15,000 $386
Payments by Loan Length
Length Payment
24 months $1,115
36 months $759
48 months $581
60 months $474
72 months $403
84 months $353

Can I afford a $32,000 car?

Is your salary enough to buy a $32,000 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 $32,000 vehicle, this would mean saving up $6,400.
  • 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 $32,000, you would need to make at least $80,000 per year.