$40,000 Car Loan

What's the monthly payment on a $40,000 car?
$
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%
Monthly payment = $726
Total yearly payments = $8,713
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $694
3.0% $708
4.0% $723
5.0% $737
6.0% $752
7.0% $766
8.0% $781
9.0% $796
10.0% $812
Payments by Amount Down
Down Monthly Payment
$0 $908
$2,000 $862
$5,000 $794
$8,000 $726
$10,000 $681
$15,000 $567
Payments by Loan Length
Length Payment
24 months $1,393
36 months $948
48 months $726
60 months $593
72 months $504
84 months $441

Can I afford a $40,000 car?

Is your salary enough to buy a $40,000 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 $40,000 vehicle, this would mean saving up $8,000.
  • 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 $40,000, you would need to make at least $100,000 per year.