$5,800 Car Loan

What's the monthly payment on a $5,800 car?
$
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%
Monthly payment = $105
Total yearly payments = $1,263
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $101
3.0% $103
4.0% $105
5.0% $107
6.0% $109
7.0% $111
8.0% $113
9.0% $115
10.0% $118
Payments by Amount Down
Down Monthly Payment
$0 $132
$500 $120
$1,000 $109
$1,500 $98
$2,000 $86
$2,500 $75
Payments by Loan Length
Length Payment
24 months $202
36 months $138
48 months $105
60 months $86
72 months $73
84 months $64

Can I afford a $5,800 car?

Is your salary enough to buy a $5,800 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 $5,800 vehicle, this would mean saving up $1,160.
  • 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 $5,800, you would need to make at least $14,500 per year.