$70,000 Car Loan

What's the monthly payment on a $70,000 car?
$
$
%
Monthly payment = $1,271
Total yearly payments = $15,248
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,215
3.0% $1,240
4.0% $1,264
5.0% $1,290
6.0% $1,315
7.0% $1,341
8.0% $1,367
9.0% $1,394
10.0% $1,420
Payments by Amount Down
Down Monthly Payment
$0 $1,588
$2,000 $1,543
$5,000 $1,475
$8,000 $1,407
$10,000 $1,361
$15,000 $1,248
Payments by Loan Length
Length Payment
24 months $2,438
36 months $1,660
48 months $1,271
60 months $1,038
72 months $883
84 months $772

Can I afford a $70,000 car?

Is your salary enough to buy a $70,000 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 $70,000 vehicle, this would mean saving up $14,000.
  • 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 $70,000, you would need to make at least $175,000 per year.