$7,900 Car Loan

What's the monthly payment on a $7,900 car?
$
$
%
Monthly payment = $143
Total yearly payments = $1,721
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $137
3.0% $140
4.0% $143
5.0% $146
6.0% $148
7.0% $151
8.0% $154
9.0% $157
10.0% $160
Payments by Amount Down
Down Monthly Payment
$0 $179
$500 $168
$1,000 $157
$1,500 $145
$2,000 $134
$2,500 $123
Payments by Loan Length
Length Payment
24 months $275
36 months $187
48 months $143
60 months $117
72 months $100
84 months $87

Can I afford a $7,900 car?

Is your salary enough to buy a $7,900 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 $7,900 vehicle, this would mean saving up $1,580.
  • 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 $7,900, you would need to make at least $19,750 per year.