$5,300 Car Loan

What's the monthly payment on a $5,300 car?
$
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%
Monthly payment = $96
Total yearly payments = $1,155
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $92
3.0% $94
4.0% $96
5.0% $98
6.0% $100
7.0% $102
8.0% $104
9.0% $106
10.0% $108
Payments by Amount Down
Down Monthly Payment
$0 $120
$500 $109
$1,000 $98
$1,500 $86
$2,000 $75
$2,500 $64
Payments by Loan Length
Length Payment
24 months $185
36 months $126
48 months $96
60 months $79
72 months $67
84 months $58

Can I afford a $5,300 car?

Is your salary enough to buy a $5,300 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 $5,300 vehicle, this would mean saving up $1,060.
  • 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 $5,300, you would need to make at least $13,250 per year.