$7,100 Car Loan

What's the monthly payment on a $7,100 car?
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Monthly payment = $129
Total yearly payments = $1,547
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $123
3.0% $126
4.0% $128
5.0% $131
6.0% $133
7.0% $136
8.0% $139
9.0% $141
10.0% $144
Payments by Amount Down
Down Monthly Payment
$0 $161
$500 $150
$1,000 $138
$1,500 $127
$2,000 $116
$2,500 $104
Payments by Loan Length
Length Payment
24 months $247
36 months $168
48 months $129
60 months $105
72 months $90
84 months $78

Can I afford a $7,100 car?

Is your salary enough to buy a $7,100 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 $7,100 vehicle, this would mean saving up $1,420.
  • 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 $7,100, you would need to make at least $17,750 per year.