$40,900 Car Loan

What's the monthly payment on a $40,900 car?
$
$
%
Monthly payment = $742
Total yearly payments = $8,909
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $710
3.0% $724
4.0% $739
5.0% $754
6.0% $768
7.0% $784
8.0% $799
9.0% $814
10.0% $830
Payments by Amount Down
Down Monthly Payment
$0 $928
$2,000 $883
$5,000 $815
$8,000 $747
$10,000 $701
$15,000 $588
Payments by Loan Length
Length Payment
24 months $1,425
36 months $970
48 months $742
60 months $606
72 months $516
84 months $451

Can I afford a $40,900 car?

Is your salary enough to buy a $40,900 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 $40,900 vehicle, this would mean saving up $8,180.
  • 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 $40,900, you would need to make at least $102,250 per year.