$4,800 Car Loan

What's the monthly payment on a $4,800 car?
$
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%
Monthly payment = $87
Total yearly payments = $1,046
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $83
3.0% $85
4.0% $87
5.0% $88
6.0% $90
7.0% $92
8.0% $94
9.0% $96
10.0% $97
Payments by Amount Down
Down Monthly Payment
$0 $109
$500 $98
$1,000 $86
$1,500 $75
$2,000 $64
$2,500 $52
Payments by Loan Length
Length Payment
24 months $167
36 months $114
48 months $87
60 months $71
72 months $61
84 months $53

Can I afford a $4,800 car?

Is your salary enough to buy a $4,800 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 $4,800 vehicle, this would mean saving up $960.
  • 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 $4,800, you would need to make at least $12,000 per year.