$50,300 Car Loan

What's the monthly payment on a $50,300 car?
$
$
%
Monthly payment = $913
Total yearly payments = $10,957
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $873
3.0% $891
4.0% $909
5.0% $927
6.0% $945
7.0% $964
8.0% $982
9.0% $1,001
10.0% $1,021
Payments by Amount Down
Down Monthly Payment
$0 $1,141
$2,000 $1,096
$5,000 $1,028
$8,000 $960
$10,000 $914
$15,000 $801
Payments by Loan Length
Length Payment
24 months $1,752
36 months $1,193
48 months $913
60 months $746
72 months $634
84 months $555

Can I afford a $50,300 car?

Is your salary enough to buy a $50,300 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 $50,300 vehicle, this would mean saving up $10,060.
  • 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 $50,300, you would need to make at least $125,750 per year.