$47,100 Car Loan

What's the monthly payment on a $47,100 car?
$
$
%
Monthly payment = $855
Total yearly payments = $10,260
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $817
3.0% $834
4.0% $851
5.0% $868
6.0% $885
7.0% $902
8.0% $920
9.0% $938
10.0% $956
Payments by Amount Down
Down Monthly Payment
$0 $1,069
$2,000 $1,023
$5,000 $955
$8,000 $887
$10,000 $842
$15,000 $728
Payments by Loan Length
Length Payment
24 months $1,640
36 months $1,117
48 months $855
60 months $698
72 months $594
84 months $519

Can I afford a $47,100 car?

Is your salary enough to buy a $47,100 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 $47,100 vehicle, this would mean saving up $9,420.
  • 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 $47,100, you would need to make at least $117,750 per year.