$42,500 Car Loan

What's the monthly payment on a $42,500 car?
$
$
%
Monthly payment = $771
Total yearly payments = $9,258
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $738
3.0% $753
4.0% $768
5.0% $783
6.0% $798
7.0% $814
8.0% $830
9.0% $846
10.0% $862
Payments by Amount Down
Down Monthly Payment
$0 $964
$2,000 $919
$5,000 $851
$8,000 $783
$10,000 $737
$15,000 $624
Payments by Loan Length
Length Payment
24 months $1,480
36 months $1,008
48 months $771
60 months $630
72 months $536
84 months $469

Can I afford a $42,500 car?

Is your salary enough to buy a $42,500 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 $42,500 vehicle, this would mean saving up $8,500.
  • 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 $42,500, you would need to make at least $106,250 per year.