$60,100 Car Loan

What's the monthly payment on a $60,100 car?
$
$
%
Monthly payment = $1,091
Total yearly payments = $13,092
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,043
3.0% $1,064
4.0% $1,086
5.0% $1,107
6.0% $1,129
7.0% $1,151
8.0% $1,174
9.0% $1,196
10.0% $1,219
Payments by Amount Down
Down Monthly Payment
$0 $1,364
$2,000 $1,318
$5,000 $1,250
$8,000 $1,182
$10,000 $1,137
$15,000 $1,023
Payments by Loan Length
Length Payment
24 months $2,093
36 months $1,425
48 months $1,091
60 months $891
72 months $758
84 months $663

Can I afford a $60,100 car?

Is your salary enough to buy a $60,100 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 $60,100 vehicle, this would mean saving up $12,020.
  • 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 $60,100, you would need to make at least $150,250 per year.