$83,500 Car Loan

What's the monthly payment on a $83,500 car?
$
$
%
Monthly payment = $1,516
Total yearly payments = $18,189
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,449
3.0% $1,479
4.0% $1,508
5.0% $1,538
6.0% $1,569
7.0% $1,600
8.0% $1,631
9.0% $1,662
10.0% $1,694
Payments by Amount Down
Down Monthly Payment
$0 $1,895
$2,000 $1,849
$5,000 $1,781
$8,000 $1,713
$10,000 $1,668
$15,000 $1,554
Payments by Loan Length
Length Payment
24 months $2,908
36 months $1,980
48 months $1,516
60 months $1,238
72 months $1,053
84 months $921

Can I afford a $83,500 car?

Is your salary enough to buy a $83,500 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 $83,500 vehicle, this would mean saving up $16,700.
  • 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 $83,500, you would need to make at least $208,750 per year.