$60,900 Car Loan

What's the monthly payment on a $60,900 car?
$
$
%
Monthly payment = $1,106
Total yearly payments = $13,266
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,057
3.0% $1,078
4.0% $1,100
5.0% $1,122
6.0% $1,144
7.0% $1,167
8.0% $1,189
9.0% $1,212
10.0% $1,236
Payments by Amount Down
Down Monthly Payment
$0 $1,382
$2,000 $1,337
$5,000 $1,268
$8,000 $1,200
$10,000 $1,155
$15,000 $1,042
Payments by Loan Length
Length Payment
24 months $2,121
36 months $1,444
48 months $1,106
60 months $903
72 months $768
84 months $672

Can I afford a $60,900 car?

Is your salary enough to buy a $60,900 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 $60,900 vehicle, this would mean saving up $12,180.
  • 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 $60,900, you would need to make at least $152,250 per year.