$59,300 Car Loan

What's the monthly payment on a $59,300 car?
$
$
%
Monthly payment = $1,076
Total yearly payments = $12,918
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,029
3.0% $1,050
4.0% $1,071
5.0% $1,093
6.0% $1,114
7.0% $1,136
8.0% $1,158
9.0% $1,181
10.0% $1,203
Payments by Amount Down
Down Monthly Payment
$0 $1,346
$2,000 $1,300
$5,000 $1,232
$8,000 $1,164
$10,000 $1,119
$15,000 $1,005
Payments by Loan Length
Length Payment
24 months $2,065
36 months $1,406
48 months $1,076
60 months $879
72 months $748
84 months $654

Can I afford a $59,300 car?

Is your salary enough to buy a $59,300 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 $59,300 vehicle, this would mean saving up $11,860.
  • 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 $59,300, you would need to make at least $148,250 per year.