$39,700 Car Loan

What's the monthly payment on a $39,700 car?
$
$
%
Monthly payment = $721
Total yearly payments = $8,648
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $689
3.0% $703
4.0% $717
5.0% $731
6.0% $746
7.0% $761
8.0% $775
9.0% $790
10.0% $806
Payments by Amount Down
Down Monthly Payment
$0 $901
$2,000 $855
$5,000 $787
$8,000 $719
$10,000 $674
$15,000 $560
Payments by Loan Length
Length Payment
24 months $1,383
36 months $941
48 months $721
60 months $588
72 months $501
84 months $438

Can I afford a $39,700 car?

Is your salary enough to buy a $39,700 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 $39,700 vehicle, this would mean saving up $7,940.
  • 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 $39,700, you would need to make at least $99,250 per year.