$34,500 Car Loan

What's the monthly payment on a $34,500 car?
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%
Monthly payment = $626
Total yearly payments = $7,515
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $599
3.0% $611
4.0% $623
5.0% $636
6.0% $648
7.0% $661
8.0% $674
9.0% $687
10.0% $700
Payments by Amount Down
Down Monthly Payment
$0 $783
$2,000 $737
$5,000 $669
$8,000 $601
$10,000 $556
$15,000 $442
Payments by Loan Length
Length Payment
24 months $1,202
36 months $818
48 months $626
60 months $511
72 months $435
84 months $380

Can I afford a $34,500 car?

Is your salary enough to buy a $34,500 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 $34,500 vehicle, this would mean saving up $6,900.
  • 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 $34,500, you would need to make at least $86,250 per year.