$40,700 Car Loan

What's the monthly payment on a $40,700 car?
$
$
%
Monthly payment = $739
Total yearly payments = $8,866
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $706
3.0% $721
4.0% $735
5.0% $750
6.0% $765
7.0% $780
8.0% $795
9.0% $810
10.0% $826
Payments by Amount Down
Down Monthly Payment
$0 $924
$2,000 $878
$5,000 $810
$8,000 $742
$10,000 $697
$15,000 $583
Payments by Loan Length
Length Payment
24 months $1,418
36 months $965
48 months $739
60 months $603
72 months $513
84 months $449

Can I afford a $40,700 car?

Is your salary enough to buy a $40,700 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 $40,700 vehicle, this would mean saving up $8,140.
  • 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 $40,700, you would need to make at least $101,750 per year.