$34,000 Car Loan

What's the monthly payment on a $34,000 car?
$
$
%
Monthly payment = $617
Total yearly payments = $7,406
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $590
3.0% $602
4.0% $614
5.0% $626
6.0% $639
7.0% $651
8.0% $664
9.0% $677
10.0% $690
Payments by Amount Down
Down Monthly Payment
$0 $771
$2,000 $726
$5,000 $658
$8,000 $590
$10,000 $545
$15,000 $431
Payments by Loan Length
Length Payment
24 months $1,184
36 months $806
48 months $617
60 months $504
72 months $429
84 months $375

Can I afford a $34,000 car?

Is your salary enough to buy a $34,000 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 $34,000 vehicle, this would mean saving up $6,800.
  • 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 $34,000, you would need to make at least $85,000 per year.