$4,900 Car Loan

What's the monthly payment on a $4,900 car?
$
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%
Monthly payment = $89
Total yearly payments = $1,067
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $85
3.0% $87
4.0% $89
5.0% $90
6.0% $92
7.0% $94
8.0% $96
9.0% $98
10.0% $99
Payments by Amount Down
Down Monthly Payment
$0 $111
$500 $100
$1,000 $88
$1,500 $77
$2,000 $66
$2,500 $54
Payments by Loan Length
Length Payment
24 months $171
36 months $116
48 months $89
60 months $73
72 months $62
84 months $54

Can I afford a $4,900 car?

Is your salary enough to buy a $4,900 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 $4,900 vehicle, this would mean saving up $980.
  • 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 $4,900, you would need to make at least $12,250 per year.