$34,200 Car Loan

What's the monthly payment on a $34,200 car?
$
$
%
Monthly payment = $621
Total yearly payments = $7,450
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $594
3.0% $606
4.0% $618
5.0% $630
6.0% $643
7.0% $655
8.0% $668
9.0% $681
10.0% $694
Payments by Amount Down
Down Monthly Payment
$0 $776
$2,000 $731
$5,000 $663
$8,000 $595
$10,000 $549
$15,000 $436
Payments by Loan Length
Length Payment
24 months $1,191
36 months $811
48 months $621
60 months $507
72 months $431
84 months $377

Can I afford a $34,200 car?

Is your salary enough to buy a $34,200 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 $34,200 vehicle, this would mean saving up $6,840.
  • 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 $34,200, you would need to make at least $85,500 per year.