$58,100 Car Loan

What's the monthly payment on a $58,100 car?
$
$
%
Monthly payment = $1,055
Total yearly payments = $12,656
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,008
3.0% $1,029
4.0% $1,049
5.0% $1,070
6.0% $1,092
7.0% $1,113
8.0% $1,135
9.0% $1,157
10.0% $1,179
Payments by Amount Down
Down Monthly Payment
$0 $1,318
$2,000 $1,273
$5,000 $1,205
$8,000 $1,137
$10,000 $1,091
$15,000 $978
Payments by Loan Length
Length Payment
24 months $2,024
36 months $1,377
48 months $1,055
60 months $861
72 months $732
84 months $641

Can I afford a $58,100 car?

Is your salary enough to buy a $58,100 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 $58,100 vehicle, this would mean saving up $11,620.
  • 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 $58,100, you would need to make at least $145,250 per year.