$63,000 Car Loan

What's the monthly payment on a $63,000 car?
$
$
%
Monthly payment = $1,144
Total yearly payments = $13,724
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,093
3.0% $1,116
4.0% $1,138
5.0% $1,161
6.0% $1,184
7.0% $1,207
8.0% $1,230
9.0% $1,254
10.0% $1,278
Payments by Amount Down
Down Monthly Payment
$0 $1,430
$2,000 $1,384
$5,000 $1,316
$8,000 $1,248
$10,000 $1,203
$15,000 $1,089
Payments by Loan Length
Length Payment
24 months $2,194
36 months $1,494
48 months $1,144
60 months $934
72 months $794
84 months $695

Can I afford a $63,000 car?

Is your salary enough to buy a $63,000 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 $63,000 vehicle, this would mean saving up $12,600.
  • 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 $63,000, you would need to make at least $157,500 per year.