$48,200 Car Loan

What's the monthly payment on a $48,200 car?
$
$
%
Monthly payment = $875
Total yearly payments = $10,500
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $837
3.0% $853
4.0% $871
5.0% $888
6.0% $906
7.0% $923
8.0% $941
9.0% $960
10.0% $978
Payments by Amount Down
Down Monthly Payment
$0 $1,094
$2,000 $1,048
$5,000 $980
$8,000 $912
$10,000 $867
$15,000 $753
Payments by Loan Length
Length Payment
24 months $1,679
36 months $1,143
48 months $875
60 months $714
72 months $608
84 months $532

Can I afford a $48,200 car?

Is your salary enough to buy a $48,200 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 $48,200 vehicle, this would mean saving up $9,640.
  • 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 $48,200, you would need to make at least $120,500 per year.