$34,900 Car Loan

What's the monthly payment on a $34,900 car?
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%
Monthly payment = $634
Total yearly payments = $7,602
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $606
3.0% $618
4.0% $630
5.0% $643
6.0% $656
7.0% $669
8.0% $682
9.0% $695
10.0% $708
Payments by Amount Down
Down Monthly Payment
$0 $792
$2,000 $747
$5,000 $678
$8,000 $610
$10,000 $565
$15,000 $452
Payments by Loan Length
Length Payment
24 months $1,216
36 months $827
48 months $634
60 months $517
72 months $440
84 months $385

Can I afford a $34,900 car?

Is your salary enough to buy a $34,900 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 $34,900 vehicle, this would mean saving up $6,980.
  • 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 $34,900, you would need to make at least $87,250 per year.