$42,200 Car Loan

What's the monthly payment on a $42,200 car?
$
$
%
Monthly payment = $766
Total yearly payments = $9,193
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $732
3.0% $747
4.0% $762
5.0% $777
6.0% $793
7.0% $808
8.0% $824
9.0% $840
10.0% $856
Payments by Amount Down
Down Monthly Payment
$0 $958
$2,000 $912
$5,000 $844
$8,000 $776
$10,000 $731
$15,000 $617
Payments by Loan Length
Length Payment
24 months $1,470
36 months $1,000
48 months $766
60 months $626
72 months $532
84 months $465

Can I afford a $42,200 car?

Is your salary enough to buy a $42,200 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 $42,200 vehicle, this would mean saving up $8,440.
  • 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 $42,200, you would need to make at least $105,500 per year.