$47,700 Car Loan

What's the monthly payment on a $47,700 car?
$
$
%
Monthly payment = $866
Total yearly payments = $10,391
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $828
3.0% $845
4.0% $862
5.0% $879
6.0% $896
7.0% $914
8.0% $932
9.0% $950
10.0% $968
Payments by Amount Down
Down Monthly Payment
$0 $1,082
$2,000 $1,037
$5,000 $969
$8,000 $901
$10,000 $855
$15,000 $742
Payments by Loan Length
Length Payment
24 months $1,661
36 months $1,131
48 months $866
60 months $707
72 months $601
84 months $526

Can I afford a $47,700 car?

Is your salary enough to buy a $47,700 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 $47,700 vehicle, this would mean saving up $9,540.
  • 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 $47,700, you would need to make at least $119,250 per year.