$68,500 Car Loan

What's the monthly payment on a $68,500 car?
$
$
%
Monthly payment = $1,243
Total yearly payments = $14,922
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,189
3.0% $1,213
4.0% $1,237
5.0% $1,262
6.0% $1,287
7.0% $1,312
8.0% $1,338
9.0% $1,364
10.0% $1,390
Payments by Amount Down
Down Monthly Payment
$0 $1,554
$2,000 $1,509
$5,000 $1,441
$8,000 $1,373
$10,000 $1,327
$15,000 $1,214
Payments by Loan Length
Length Payment
24 months $2,386
36 months $1,624
48 months $1,243
60 months $1,015
72 months $864
84 months $755

Can I afford a $68,500 car?

Is your salary enough to buy a $68,500 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 $68,500 vehicle, this would mean saving up $13,700.
  • 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 $68,500, you would need to make at least $171,250 per year.