$42,000 Car Loan

What's the monthly payment on a $42,000 car?
$
$
%
Monthly payment = $762
Total yearly payments = $9,149
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $729
3.0% $744
4.0% $759
5.0% $774
6.0% $789
7.0% $805
8.0% $820
9.0% $836
10.0% $852
Payments by Amount Down
Down Monthly Payment
$0 $953
$2,000 $908
$5,000 $840
$8,000 $771
$10,000 $726
$15,000 $613
Payments by Loan Length
Length Payment
24 months $1,463
36 months $996
48 months $762
60 months $623
72 months $530
84 months $463

Can I afford a $42,000 car?

Is your salary enough to buy a $42,000 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 $42,000 vehicle, this would mean saving up $8,400.
  • 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 $42,000, you would need to make at least $105,000 per year.