$60,300 Car Loan

What's the monthly payment on a $60,300 car?
$
$
%
Monthly payment = $1,095
Total yearly payments = $13,135
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,047
3.0% $1,068
4.0% $1,089
5.0% $1,111
6.0% $1,133
7.0% $1,155
8.0% $1,178
9.0% $1,200
10.0% $1,223
Payments by Amount Down
Down Monthly Payment
$0 $1,368
$2,000 $1,323
$5,000 $1,255
$8,000 $1,187
$10,000 $1,141
$15,000 $1,028
Payments by Loan Length
Length Payment
24 months $2,100
36 months $1,430
48 months $1,095
60 months $894
72 months $760
84 months $665

Can I afford a $60,300 car?

Is your salary enough to buy a $60,300 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 $60,300 vehicle, this would mean saving up $12,060.
  • 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 $60,300, you would need to make at least $150,750 per year.