$42,700 Car Loan

What's the monthly payment on a $42,700 car?
$
$
%
Monthly payment = $775
Total yearly payments = $9,302
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $741
3.0% $756
4.0% $771
5.0% $787
6.0% $802
7.0% $818
8.0% $834
9.0% $850
10.0% $866
Payments by Amount Down
Down Monthly Payment
$0 $969
$2,000 $924
$5,000 $855
$8,000 $787
$10,000 $742
$15,000 $629
Payments by Loan Length
Length Payment
24 months $1,487
36 months $1,012
48 months $775
60 months $633
72 months $538
84 months $471

Can I afford a $42,700 car?

Is your salary enough to buy a $42,700 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 $42,700 vehicle, this would mean saving up $8,540.
  • 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 $42,700, you would need to make at least $106,750 per year.