\$78,600 Car Loan

What's the monthly payment on a \$78,600 car?
\$
\$
%
Monthly payment = \$1,427
Total yearly payments = \$17,122
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% \$1,364
3.0% \$1,392
4.0% \$1,420
5.0% \$1,448
6.0% \$1,477
7.0% \$1,506
8.0% \$1,535
9.0% \$1,565
10.0% \$1,595
Payments by Amount Down
Down Monthly Payment
\$0 \$1,784
\$2,000 \$1,738
\$5,000 \$1,670
\$8,000 \$1,602
\$10,000 \$1,557
\$15,000 \$1,443
Payments by Loan Length
Length Payment
24 months \$2,738
36 months \$1,863
48 months \$1,427
60 months \$1,165
72 months \$991
84 months \$867

Can I afford a \$78,600 car?

Is your salary enough to buy a \$78,600 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 \$78,600 vehicle, this would mean saving up \$15,720.
• 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 \$78,600, you would need to make at least \$196,500 per year.