$6,400 Car Loan

What's the monthly payment on a $6,400 car?
$
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%
Monthly payment = $116
Total yearly payments = $1,394
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $111
3.0% $113
4.0% $116
5.0% $118
6.0% $120
7.0% $123
8.0% $125
9.0% $127
10.0% $130
Payments by Amount Down
Down Monthly Payment
$0 $145
$500 $134
$1,000 $123
$1,500 $111
$2,000 $100
$2,500 $88
Payments by Loan Length
Length Payment
24 months $223
36 months $152
48 months $116
60 months $95
72 months $81
84 months $71

Can I afford a $6,400 car?

Is your salary enough to buy a $6,400 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 $6,400 vehicle, this would mean saving up $1,280.
  • 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 $6,400, you would need to make at least $16,000 per year.