$47,500 Car Loan

What's the monthly payment on a $47,500 car?
$
$
%
Monthly payment = $862
Total yearly payments = $10,347
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $824
3.0% $841
4.0% $858
5.0% $875
6.0% $892
7.0% $910
8.0% $928
9.0% $946
10.0% $964
Payments by Amount Down
Down Monthly Payment
$0 $1,078
$2,000 $1,032
$5,000 $964
$8,000 $896
$10,000 $851
$15,000 $737
Payments by Loan Length
Length Payment
24 months $1,654
36 months $1,126
48 months $862
60 months $704
72 months $599
84 months $524

Can I afford a $47,500 car?

Is your salary enough to buy a $47,500 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 $47,500 vehicle, this would mean saving up $9,500.
  • 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 $47,500, you would need to make at least $118,750 per year.