$48,600 Car Loan

What's the monthly payment on a $48,600 car?
$
$
%
Monthly payment = $882
Total yearly payments = $10,587
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $844
3.0% $861
4.0% $878
5.0% $895
6.0% $913
7.0% $931
8.0% $949
9.0% $968
10.0% $986
Payments by Amount Down
Down Monthly Payment
$0 $1,103
$2,000 $1,057
$5,000 $989
$8,000 $921
$10,000 $876
$15,000 $762
Payments by Loan Length
Length Payment
24 months $1,693
36 months $1,152
48 months $882
60 months $720
72 months $613
84 months $536

Can I afford a $48,600 car?

Is your salary enough to buy a $48,600 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 $48,600 vehicle, this would mean saving up $9,720.
  • 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 $48,600, you would need to make at least $121,500 per year.