$6,300 Car Loan

What's the monthly payment on a $6,300 car?
$
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%
Monthly payment = $114
Total yearly payments = $1,372
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $109
3.0% $112
4.0% $114
5.0% $116
6.0% $118
7.0% $121
8.0% $123
9.0% $125
10.0% $128
Payments by Amount Down
Down Monthly Payment
$0 $143
$500 $132
$1,000 $120
$1,500 $109
$2,000 $98
$2,500 $86
Payments by Loan Length
Length Payment
24 months $219
36 months $149
48 months $114
60 months $93
72 months $79
84 months $69

Can I afford a $6,300 car?

Is your salary enough to buy a $6,300 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 $6,300 vehicle, this would mean saving up $1,260.
  • 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 $6,300, you would need to make at least $15,750 per year.