$50,000 Car Loan

What's the monthly payment on a $50,000 car?
$
$
%
Monthly payment = $908
Total yearly payments = $10,892
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $868
3.0% $885
4.0% $903
5.0% $921
6.0% $939
7.0% $958
8.0% $977
9.0% $995
10.0% $1,015
Payments by Amount Down
Down Monthly Payment
$0 $1,135
$2,000 $1,089
$5,000 $1,021
$8,000 $953
$10,000 $908
$15,000 $794
Payments by Loan Length
Length Payment
24 months $1,741
36 months $1,185
48 months $908
60 months $741
72 months $630
84 months $551

Can I afford a $50,000 car?

Is your salary enough to buy a $50,000 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 $50,000 vehicle, this would mean saving up $10,000.
  • 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 $50,000, you would need to make at least $125,000 per year.