$48,300 Car Loan

What's the monthly payment on a $48,300 car?
$
$
%
Monthly payment = $877
Total yearly payments = $10,521
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $838
3.0% $855
4.0% $872
5.0% $890
6.0% $907
7.0% $925
8.0% $943
9.0% $962
10.0% $980
Payments by Amount Down
Down Monthly Payment
$0 $1,096
$2,000 $1,051
$5,000 $983
$8,000 $914
$10,000 $869
$15,000 $756
Payments by Loan Length
Length Payment
24 months $1,682
36 months $1,145
48 months $877
60 months $716
72 months $609
84 months $533

Can I afford a $48,300 car?

Is your salary enough to buy a $48,300 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 $48,300 vehicle, this would mean saving up $9,660.
  • 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 $48,300, you would need to make at least $120,750 per year.