$47,800 Car Loan

What's the monthly payment on a $47,800 car?
$
$
%
Monthly payment = $868
Total yearly payments = $10,412
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $830
3.0% $846
4.0% $863
5.0% $881
6.0% $898
7.0% $916
8.0% $934
9.0% $952
10.0% $970
Payments by Amount Down
Down Monthly Payment
$0 $1,085
$2,000 $1,039
$5,000 $971
$8,000 $903
$10,000 $858
$15,000 $744
Payments by Loan Length
Length Payment
24 months $1,665
36 months $1,133
48 months $868
60 months $709
72 months $603
84 months $527

Can I afford a $47,800 car?

Is your salary enough to buy a $47,800 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 $47,800 vehicle, this would mean saving up $9,560.
  • 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 $47,800, you would need to make at least $119,500 per year.