$6,700 Car Loan

What's the monthly payment on a $6,700 car?
$
$
%
Monthly payment = $122
Total yearly payments = $1,459
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $116
3.0% $119
4.0% $121
5.0% $123
6.0% $126
7.0% $128
8.0% $131
9.0% $133
10.0% $136
Payments by Amount Down
Down Monthly Payment
$0 $152
$500 $141
$1,000 $129
$1,500 $118
$2,000 $107
$2,500 $95
Payments by Loan Length
Length Payment
24 months $233
36 months $159
48 months $122
60 months $99
72 months $84
84 months $74

Can I afford a $6,700 car?

Is your salary enough to buy a $6,700 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 $6,700 vehicle, this would mean saving up $1,340.
  • 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 $6,700, you would need to make at least $16,750 per year.