$68,700 Car Loan

What's the monthly payment on a $68,700 car?
$
$
%
Monthly payment = $1,247
Total yearly payments = $14,965
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,192
3.0% $1,217
4.0% $1,241
5.0% $1,266
6.0% $1,291
7.0% $1,316
8.0% $1,342
9.0% $1,368
10.0% $1,394
Payments by Amount Down
Down Monthly Payment
$0 $1,559
$2,000 $1,513
$5,000 $1,445
$8,000 $1,377
$10,000 $1,332
$15,000 $1,219
Payments by Loan Length
Length Payment
24 months $2,393
36 months $1,629
48 months $1,247
60 months $1,018
72 months $866
84 months $758

Can I afford a $68,700 car?

Is your salary enough to buy a $68,700 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 $68,700 vehicle, this would mean saving up $13,740.
  • 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 $68,700, you would need to make at least $171,750 per year.