$6,500 Car Loan

What's the monthly payment on a $6,500 car?
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%
Monthly payment = $118
Total yearly payments = $1,416
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $113
3.0% $115
4.0% $117
5.0% $120
6.0% $122
7.0% $125
8.0% $127
9.0% $129
10.0% $132
Payments by Amount Down
Down Monthly Payment
$0 $147
$500 $136
$1,000 $125
$1,500 $113
$2,000 $102
$2,500 $91
Payments by Loan Length
Length Payment
24 months $226
36 months $154
48 months $118
60 months $96
72 months $82
84 months $72

Can I afford a $6,500 car?

Is your salary enough to buy a $6,500 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 $6,500 vehicle, this would mean saving up $1,300.
  • 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 $6,500, you would need to make at least $16,250 per year.