$48,700 Car Loan

What's the monthly payment on a $48,700 car?
$
$
%
Monthly payment = $884
Total yearly payments = $10,609
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $845
3.0% $862
4.0% $880
5.0% $897
6.0% $915
7.0% $933
8.0% $951
9.0% $970
10.0% $988
Payments by Amount Down
Down Monthly Payment
$0 $1,105
$2,000 $1,060
$5,000 $992
$8,000 $924
$10,000 $878
$15,000 $765
Payments by Loan Length
Length Payment
24 months $1,696
36 months $1,155
48 months $884
60 months $722
72 months $614
84 months $537

Can I afford a $48,700 car?

Is your salary enough to buy a $48,700 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 $48,700 vehicle, this would mean saving up $9,740.
  • 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 $48,700, you would need to make at least $121,750 per year.