$34,800 Car Loan

What's the monthly payment on a $34,800 car?
$
$
%
Monthly payment = $632
Total yearly payments = $7,581
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $604
3.0% $616
4.0% $629
5.0% $641
6.0% $654
7.0% $667
8.0% $680
9.0% $693
10.0% $706
Payments by Amount Down
Down Monthly Payment
$0 $790
$2,000 $744
$5,000 $676
$8,000 $608
$10,000 $563
$15,000 $449
Payments by Loan Length
Length Payment
24 months $1,212
36 months $825
48 months $632
60 months $516
72 months $439
84 months $384

Can I afford a $34,800 car?

Is your salary enough to buy a $34,800 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 $34,800 vehicle, this would mean saving up $6,960.
  • 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 $34,800, you would need to make at least $87,000 per year.