$7,700 Car Loan

What's the monthly payment on a $7,700 car?
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Monthly payment = $140
Total yearly payments = $1,677
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $134
3.0% $136
4.0% $139
5.0% $142
6.0% $145
7.0% $148
8.0% $150
9.0% $153
10.0% $156
Payments by Amount Down
Down Monthly Payment
$0 $175
$500 $163
$1,000 $152
$1,500 $141
$2,000 $129
$2,500 $118
Payments by Loan Length
Length Payment
24 months $268
36 months $183
48 months $140
60 months $114
72 months $97
84 months $85

Can I afford a $7,700 car?

Is your salary enough to buy a $7,700 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 $7,700 vehicle, this would mean saving up $1,540.
  • 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 $7,700, you would need to make at least $19,250 per year.