$57,000 Car Loan

What's the monthly payment on a $57,000 car?
$
$
%
Monthly payment = $1,035
Total yearly payments = $12,417
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $989
3.0% $1,009
4.0% $1,030
5.0% $1,050
6.0% $1,071
7.0% $1,092
8.0% $1,113
9.0% $1,135
10.0% $1,157
Payments by Amount Down
Down Monthly Payment
$0 $1,293
$2,000 $1,248
$5,000 $1,180
$8,000 $1,112
$10,000 $1,066
$15,000 $953
Payments by Loan Length
Length Payment
24 months $1,985
36 months $1,351
48 months $1,035
60 months $845
72 months $719
84 months $629

Can I afford a $57,000 car?

Is your salary enough to buy a $57,000 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 $57,000 vehicle, this would mean saving up $11,400.
  • 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 $57,000, you would need to make at least $142,500 per year.