$48,400 Car Loan

What's the monthly payment on a $48,400 car?
$
$
%
Monthly payment = $879
Total yearly payments = $10,543
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $840
3.0% $857
4.0% $874
5.0% $892
6.0% $909
7.0% $927
8.0% $945
9.0% $964
10.0% $982
Payments by Amount Down
Down Monthly Payment
$0 $1,098
$2,000 $1,053
$5,000 $985
$8,000 $917
$10,000 $871
$15,000 $758
Payments by Loan Length
Length Payment
24 months $1,686
36 months $1,147
48 months $879
60 months $717
72 months $610
84 months $534

Can I afford a $48,400 car?

Is your salary enough to buy a $48,400 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 $48,400 vehicle, this would mean saving up $9,680.
  • 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 $48,400, you would need to make at least $121,000 per year.