$70,500 Car Loan

What's the monthly payment on a $70,500 car?
$
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%
Monthly payment = $1,280
Total yearly payments = $15,357
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,224
3.0% $1,248
4.0% $1,273
5.0% $1,299
6.0% $1,325
7.0% $1,351
8.0% $1,377
9.0% $1,404
10.0% $1,430
Payments by Amount Down
Down Monthly Payment
$0 $1,600
$2,000 $1,554
$5,000 $1,486
$8,000 $1,418
$10,000 $1,373
$15,000 $1,259
Payments by Loan Length
Length Payment
24 months $2,455
36 months $1,671
48 months $1,280
60 months $1,045
72 months $889
84 months $777

Can I afford a $70,500 car?

Is your salary enough to buy a $70,500 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 $70,500 vehicle, this would mean saving up $14,100.
  • 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 $70,500, you would need to make at least $176,250 per year.