$5,400 Car Loan

What's the monthly payment on a $5,400 car?
$
$
%
Monthly payment = $98
Total yearly payments = $1,176
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $94
3.0% $96
4.0% $98
5.0% $99
6.0% $101
7.0% $103
8.0% $105
9.0% $108
10.0% $110
Payments by Amount Down
Down Monthly Payment
$0 $123
$500 $111
$1,000 $100
$1,500 $88
$2,000 $77
$2,500 $66
Payments by Loan Length
Length Payment
24 months $188
36 months $128
48 months $98
60 months $80
72 months $68
84 months $60

Can I afford a $5,400 car?

Is your salary enough to buy a $5,400 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 $5,400 vehicle, this would mean saving up $1,080.
  • 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 $5,400, you would need to make at least $13,500 per year.