$61,000 Car Loan

What's the monthly payment on a $61,000 car?
$
$
%
Monthly payment = $1,107
Total yearly payments = $13,288
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,059
3.0% $1,080
4.0% $1,102
5.0% $1,124
6.0% $1,146
7.0% $1,169
8.0% $1,191
9.0% $1,214
10.0% $1,238
Payments by Amount Down
Down Monthly Payment
$0 $1,384
$2,000 $1,339
$5,000 $1,271
$8,000 $1,203
$10,000 $1,157
$15,000 $1,044
Payments by Loan Length
Length Payment
24 months $2,125
36 months $1,446
48 months $1,107
60 months $904
72 months $769
84 months $673

Can I afford a $61,000 car?

Is your salary enough to buy a $61,000 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 $61,000 vehicle, this would mean saving up $12,200.
  • 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 $61,000, you would need to make at least $152,500 per year.