$47,600 Car Loan

What's the monthly payment on a $47,600 car?
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$
%
Monthly payment = $864
Total yearly payments = $10,369
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $826
3.0% $843
4.0% $860
5.0% $877
6.0% $894
7.0% $912
8.0% $930
9.0% $948
10.0% $966
Payments by Amount Down
Down Monthly Payment
$0 $1,080
$2,000 $1,035
$5,000 $967
$8,000 $899
$10,000 $853
$15,000 $740
Payments by Loan Length
Length Payment
24 months $1,658
36 months $1,129
48 months $864
60 months $706
72 months $600
84 months $525

Can I afford a $47,600 car?

Is your salary enough to buy a $47,600 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 $47,600 vehicle, this would mean saving up $9,520.
  • 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 $47,600, you would need to make at least $119,000 per year.