$63,400 Car Loan

What's the monthly payment on a $63,400 car?
$
$
%
Monthly payment = $1,151
Total yearly payments = $13,811
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,100
3.0% $1,123
4.0% $1,145
5.0% $1,168
6.0% $1,191
7.0% $1,215
8.0% $1,238
9.0% $1,262
10.0% $1,286
Payments by Amount Down
Down Monthly Payment
$0 $1,439
$2,000 $1,393
$5,000 $1,325
$8,000 $1,257
$10,000 $1,212
$15,000 $1,098
Payments by Loan Length
Length Payment
24 months $2,208
36 months $1,503
48 months $1,151
60 months $940
72 months $799
84 months $699

Can I afford a $63,400 car?

Is your salary enough to buy a $63,400 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 $63,400 vehicle, this would mean saving up $12,680.
  • 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 $63,400, you would need to make at least $158,500 per year.