$48,500 Car Loan

What's the monthly payment on a $48,500 car?
$
$
%
Monthly payment = $880
Total yearly payments = $10,565
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $842
3.0% $859
4.0% $876
5.0% $894
6.0% $911
7.0% $929
8.0% $947
9.0% $966
10.0% $984
Payments by Amount Down
Down Monthly Payment
$0 $1,101
$2,000 $1,055
$5,000 $987
$8,000 $919
$10,000 $874
$15,000 $760
Payments by Loan Length
Length Payment
24 months $1,689
36 months $1,150
48 months $880
60 months $719
72 months $611
84 months $535

Can I afford a $48,500 car?

Is your salary enough to buy a $48,500 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 $48,500 vehicle, this would mean saving up $9,700.
  • 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 $48,500, you would need to make at least $121,250 per year.