$60,600 Car Loan

What's the monthly payment on a $60,600 car?
$
$
%
Monthly payment = $1,100
Total yearly payments = $13,201
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,052
3.0% $1,073
4.0% $1,095
5.0% $1,116
6.0% $1,139
7.0% $1,161
8.0% $1,184
9.0% $1,206
10.0% $1,230
Payments by Amount Down
Down Monthly Payment
$0 $1,375
$2,000 $1,330
$5,000 $1,262
$8,000 $1,194
$10,000 $1,148
$15,000 $1,035
Payments by Loan Length
Length Payment
24 months $2,111
36 months $1,437
48 months $1,100
60 months $898
72 months $764
84 months $668

Can I afford a $60,600 car?

Is your salary enough to buy a $60,600 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 $60,600 vehicle, this would mean saving up $12,120.
  • 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 $60,600, you would need to make at least $151,500 per year.