$5,900 Car Loan

What's the monthly payment on a $5,900 car?
$
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%
Monthly payment = $107
Total yearly payments = $1,285
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $102
3.0% $104
4.0% $107
5.0% $109
6.0% $111
7.0% $113
8.0% $115
9.0% $117
10.0% $120
Payments by Amount Down
Down Monthly Payment
$0 $134
$500 $123
$1,000 $111
$1,500 $100
$2,000 $88
$2,500 $77
Payments by Loan Length
Length Payment
24 months $205
36 months $140
48 months $107
60 months $87
72 months $74
84 months $65

Can I afford a $5,900 car?

Is your salary enough to buy a $5,900 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 $5,900 vehicle, this would mean saving up $1,180.
  • 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 $5,900, you would need to make at least $14,750 per year.