$8,400 Car Loan

What's the monthly payment on a $8,400 car?
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%
Monthly payment = $152
Total yearly payments = $1,830
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $146
3.0% $149
4.0% $152
5.0% $155
6.0% $158
7.0% $161
8.0% $164
9.0% $167
10.0% $170
Payments by Amount Down
Down Monthly Payment
$0 $191
$500 $179
$1,000 $168
$1,500 $157
$2,000 $145
$2,500 $134
Payments by Loan Length
Length Payment
24 months $293
36 months $199
48 months $152
60 months $125
72 months $106
84 months $93

Can I afford a $8,400 car?

Is your salary enough to buy a $8,400 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 $8,400 vehicle, this would mean saving up $1,680.
  • 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 $8,400, you would need to make at least $21,000 per year.