$53,400 Car Loan

What's the monthly payment on a $53,400 car?
$
$
%
Monthly payment = $969
Total yearly payments = $11,632
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $927
3.0% $946
4.0% $965
5.0% $984
6.0% $1,003
7.0% $1,023
8.0% $1,043
9.0% $1,063
10.0% $1,083
Payments by Amount Down
Down Monthly Payment
$0 $1,212
$2,000 $1,166
$5,000 $1,098
$8,000 $1,030
$10,000 $985
$15,000 $871
Payments by Loan Length
Length Payment
24 months $1,860
36 months $1,266
48 months $969
60 months $792
72 months $673
84 months $589

Can I afford a $53,400 car?

Is your salary enough to buy a $53,400 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 $53,400 vehicle, this would mean saving up $10,680.
  • 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 $53,400, you would need to make at least $133,500 per year.