$59,000 Car Loan

What's the monthly payment on a $59,000 car?
$
$
%
Monthly payment = $1,071
Total yearly payments = $12,852
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,024
3.0% $1,045
4.0% $1,066
5.0% $1,087
6.0% $1,108
7.0% $1,130
8.0% $1,152
9.0% $1,175
10.0% $1,197
Payments by Amount Down
Down Monthly Payment
$0 $1,339
$2,000 $1,293
$5,000 $1,225
$8,000 $1,157
$10,000 $1,112
$15,000 $998
Payments by Loan Length
Length Payment
24 months $2,055
36 months $1,399
48 months $1,071
60 months $875
72 months $744
84 months $651

Can I afford a $59,000 car?

Is your salary enough to buy a $59,000 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 $59,000 vehicle, this would mean saving up $11,800.
  • 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 $59,000, you would need to make at least $147,500 per year.