$34,700 Car Loan

What's the monthly payment on a $34,700 car?
$
$
%
Monthly payment = $630
Total yearly payments = $7,559
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $602
3.0% $614
4.0% $627
5.0% $639
6.0% $652
7.0% $665
8.0% $678
9.0% $691
10.0% $704
Payments by Amount Down
Down Monthly Payment
$0 $787
$2,000 $742
$5,000 $674
$8,000 $606
$10,000 $560
$15,000 $447
Payments by Loan Length
Length Payment
24 months $1,209
36 months $823
48 months $630
60 months $514
72 months $437
84 months $383

Can I afford a $34,700 car?

Is your salary enough to buy a $34,700 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 $34,700 vehicle, this would mean saving up $6,940.
  • 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 $34,700, you would need to make at least $86,750 per year.