$54,000 Car Loan

What's the monthly payment on a $54,000 car?
$
$
%
Monthly payment = $980
Total yearly payments = $11,763
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $937
3.0% $956
4.0% $975
5.0% $995
6.0% $1,015
7.0% $1,034
8.0% $1,055
9.0% $1,075
10.0% $1,096
Payments by Amount Down
Down Monthly Payment
$0 $1,225
$2,000 $1,180
$5,000 $1,112
$8,000 $1,044
$10,000 $998
$15,000 $885
Payments by Loan Length
Length Payment
24 months $1,881
36 months $1,280
48 months $980
60 months $800
72 months $681
84 months $595

Can I afford a $54,000 car?

Is your salary enough to buy a $54,000 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 $54,000 vehicle, this would mean saving up $10,800.
  • 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 $54,000, you would need to make at least $135,000 per year.