$63,500 Car Loan

What's the monthly payment on a $63,500 car?
$
$
%
Monthly payment = $1,153
Total yearly payments = $13,832
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,102
3.0% $1,124
4.0% $1,147
5.0% $1,170
6.0% $1,193
7.0% $1,216
8.0% $1,240
9.0% $1,264
10.0% $1,288
Payments by Amount Down
Down Monthly Payment
$0 $1,441
$2,000 $1,396
$5,000 $1,327
$8,000 $1,259
$10,000 $1,214
$15,000 $1,101
Payments by Loan Length
Length Payment
24 months $2,212
36 months $1,505
48 months $1,153
60 months $941
72 months $801
84 months $700

Can I afford a $63,500 car?

Is your salary enough to buy a $63,500 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 $63,500 vehicle, this would mean saving up $12,700.
  • 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 $63,500, you would need to make at least $158,750 per year.