$47,400 Car Loan

What's the monthly payment on a $47,400 car?
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$
%
Monthly payment = $860
Total yearly payments = $10,325
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $823
3.0% $839
4.0% $856
5.0% $873
6.0% $891
7.0% $908
8.0% $926
9.0% $944
10.0% $962
Payments by Amount Down
Down Monthly Payment
$0 $1,076
$2,000 $1,030
$5,000 $962
$8,000 $894
$10,000 $849
$15,000 $735
Payments by Loan Length
Length Payment
24 months $1,651
36 months $1,124
48 months $860
60 months $703
72 months $598
84 months $523

Can I afford a $47,400 car?

Is your salary enough to buy a $47,400 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 $47,400 vehicle, this would mean saving up $9,480.
  • 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 $47,400, you would need to make at least $118,500 per year.