$47,000 Car Loan

What's the monthly payment on a $47,000 car?
$
$
%
Monthly payment = $853
Total yearly payments = $10,238
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $816
3.0% $832
4.0% $849
5.0% $866
6.0% $883
7.0% $900
8.0% $918
9.0% $936
10.0% $954
Payments by Amount Down
Down Monthly Payment
$0 $1,066
$2,000 $1,021
$5,000 $953
$8,000 $885
$10,000 $840
$15,000 $726
Payments by Loan Length
Length Payment
24 months $1,637
36 months $1,114
48 months $853
60 months $697
72 months $593
84 months $518

Can I afford a $47,000 car?

Is your salary enough to buy a $47,000 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 $47,000 vehicle, this would mean saving up $9,400.
  • 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 $47,000, you would need to make at least $117,500 per year.