$8,300 Car Loan

What's the monthly payment on a $8,300 car?
$
$
%
Monthly payment = $151
Total yearly payments = $1,808
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $144
3.0% $147
4.0% $150
5.0% $153
6.0% $156
7.0% $159
8.0% $162
9.0% $165
10.0% $168
Payments by Amount Down
Down Monthly Payment
$0 $188
$500 $177
$1,000 $166
$1,500 $154
$2,000 $143
$2,500 $132
Payments by Loan Length
Length Payment
24 months $289
36 months $197
48 months $151
60 months $123
72 months $105
84 months $92

Can I afford a $8,300 car?

Is your salary enough to buy a $8,300 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 $8,300 vehicle, this would mean saving up $1,660.
  • 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 $8,300, you would need to make at least $20,750 per year.