$4,700 Car Loan

What's the monthly payment on a $4,700 car?
$
$
%
Monthly payment = $85
Total yearly payments = $1,024
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $82
3.0% $83
4.0% $85
5.0% $87
6.0% $88
7.0% $90
8.0% $92
9.0% $94
10.0% $95
Payments by Amount Down
Down Monthly Payment
$0 $107
$500 $95
$1,000 $84
$1,500 $73
$2,000 $61
$2,500 $50
Payments by Loan Length
Length Payment
24 months $164
36 months $111
48 months $85
60 months $70
72 months $59
84 months $52

Can I afford a $4,700 car?

Is your salary enough to buy a $4,700 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 $4,700 vehicle, this would mean saving up $940.
  • 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 $4,700, you would need to make at least $11,750 per year.