$42,400 Car Loan

What's the monthly payment on a $42,400 car?
$
$
%
Monthly payment = $770
Total yearly payments = $9,236
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $736
3.0% $751
4.0% $766
5.0% $781
6.0% $797
7.0% $812
8.0% $828
9.0% $844
10.0% $860
Payments by Amount Down
Down Monthly Payment
$0 $962
$2,000 $917
$5,000 $849
$8,000 $781
$10,000 $735
$15,000 $622
Payments by Loan Length
Length Payment
24 months $1,477
36 months $1,005
48 months $770
60 months $629
72 months $535
84 months $468

Can I afford a $42,400 car?

Is your salary enough to buy a $42,400 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 $42,400 vehicle, this would mean saving up $8,480.
  • 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 $42,400, you would need to make at least $106,000 per year.