$37,500 Car Loan

What's the monthly payment on a $37,500 car?
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%
Monthly payment = $681
Total yearly payments = $8,169
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $651
3.0% $664
4.0% $677
5.0% $691
6.0% $705
7.0% $718
8.0% $732
9.0% $747
10.0% $761
Payments by Amount Down
Down Monthly Payment
$0 $851
$2,000 $806
$5,000 $737
$8,000 $669
$10,000 $624
$15,000 $511
Payments by Loan Length
Length Payment
24 months $1,306
36 months $889
48 months $681
60 months $556
72 months $473
84 months $414

Can I afford a $37,500 car?

Is your salary enough to buy a $37,500 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 $37,500 vehicle, this would mean saving up $7,500.
  • 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 $37,500, you would need to make at least $93,750 per year.