$60,800 Car Loan

What's the monthly payment on a $60,800 car?
$
$
%
Monthly payment = $1,104
Total yearly payments = $13,244
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,055
3.0% $1,077
4.0% $1,098
5.0% $1,120
6.0% $1,142
7.0% $1,165
8.0% $1,187
9.0% $1,210
10.0% $1,234
Payments by Amount Down
Down Monthly Payment
$0 $1,380
$2,000 $1,334
$5,000 $1,266
$8,000 $1,198
$10,000 $1,153
$15,000 $1,039
Payments by Loan Length
Length Payment
24 months $2,118
36 months $1,441
48 months $1,104
60 months $901
72 months $767
84 months $670

Can I afford a $60,800 car?

Is your salary enough to buy a $60,800 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 $60,800 vehicle, this would mean saving up $12,160.
  • 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 $60,800, you would need to make at least $152,000 per year.