$38,900 Car Loan

What's the monthly payment on a $38,900 car?
$
$
%
Monthly payment = $706
Total yearly payments = $8,474
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $675
3.0% $689
4.0% $703
5.0% $717
6.0% $731
7.0% $745
8.0% $760
9.0% $774
10.0% $789
Payments by Amount Down
Down Monthly Payment
$0 $883
$2,000 $837
$5,000 $769
$8,000 $701
$10,000 $656
$15,000 $542
Payments by Loan Length
Length Payment
24 months $1,355
36 months $922
48 months $706
60 months $577
72 months $490
84 months $429

Can I afford a $38,900 car?

Is your salary enough to buy a $38,900 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 $38,900 vehicle, this would mean saving up $7,780.
  • 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 $38,900, you would need to make at least $97,250 per year.