$48,000 Car Loan

What's the monthly payment on a $48,000 car?
$
$
%
Monthly payment = $871
Total yearly payments = $10,456
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $833
3.0% $850
4.0% $867
5.0% $884
6.0% $902
7.0% $920
8.0% $937
9.0% $956
10.0% $974
Payments by Amount Down
Down Monthly Payment
$0 $1,089
$2,000 $1,044
$5,000 $976
$8,000 $908
$10,000 $862
$15,000 $749
Payments by Loan Length
Length Payment
24 months $1,672
36 months $1,138
48 months $871
60 months $712
72 months $605
84 months $529

Can I afford a $48,000 car?

Is your salary enough to buy a $48,000 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 $48,000 vehicle, this would mean saving up $9,600.
  • 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 $48,000, you would need to make at least $120,000 per year.