$70,700 Car Loan

What's the monthly payment on a $70,700 car?
$
$
%
Monthly payment = $1,283
Total yearly payments = $15,401
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,227
3.0% $1,252
4.0% $1,277
5.0% $1,303
6.0% $1,328
7.0% $1,354
8.0% $1,381
9.0% $1,407
10.0% $1,435
Payments by Amount Down
Down Monthly Payment
$0 $1,604
$2,000 $1,559
$5,000 $1,491
$8,000 $1,423
$10,000 $1,377
$15,000 $1,264
Payments by Loan Length
Length Payment
24 months $2,462
36 months $1,676
48 months $1,283
60 months $1,048
72 months $891
84 months $780

Can I afford a $70,700 car?

Is your salary enough to buy a $70,700 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 $70,700 vehicle, this would mean saving up $14,140.
  • 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 $70,700, you would need to make at least $176,750 per year.