$51,500 Car Loan

What's the monthly payment on a $51,500 car?
$
$
%
Monthly payment = $935
Total yearly payments = $11,218
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $894
3.0% $912
4.0% $930
5.0% $949
6.0% $968
7.0% $987
8.0% $1,006
9.0% $1,025
10.0% $1,045
Payments by Amount Down
Down Monthly Payment
$0 $1,169
$2,000 $1,123
$5,000 $1,055
$8,000 $987
$10,000 $942
$15,000 $828
Payments by Loan Length
Length Payment
24 months $1,794
36 months $1,221
48 months $935
60 months $763
72 months $649
84 months $568

Can I afford a $51,500 car?

Is your salary enough to buy a $51,500 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 $51,500 vehicle, this would mean saving up $10,300.
  • 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 $51,500, you would need to make at least $128,750 per year.