$6,800 Car Loan

What's the monthly payment on a $6,800 car?
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%
Monthly payment = $123
Total yearly payments = $1,481
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $118
3.0% $120
4.0% $123
5.0% $125
6.0% $128
7.0% $130
8.0% $133
9.0% $135
10.0% $138
Payments by Amount Down
Down Monthly Payment
$0 $154
$500 $143
$1,000 $132
$1,500 $120
$2,000 $109
$2,500 $98
Payments by Loan Length
Length Payment
24 months $237
36 months $161
48 months $123
60 months $101
72 months $86
84 months $75

Can I afford a $6,800 car?

Is your salary enough to buy a $6,800 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 $6,800 vehicle, this would mean saving up $1,360.
  • 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 $6,800, you would need to make at least $17,000 per year.