$8,500 Car Loan

What's the monthly payment on a $8,500 car?
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%
Monthly payment = $154
Total yearly payments = $1,852
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $148
3.0% $151
4.0% $154
5.0% $157
6.0% $160
7.0% $163
8.0% $166
9.0% $169
10.0% $172
Payments by Amount Down
Down Monthly Payment
$0 $193
$500 $182
$1,000 $170
$1,500 $159
$2,000 $147
$2,500 $136
Payments by Loan Length
Length Payment
24 months $296
36 months $202
48 months $154
60 months $126
72 months $107
84 months $94

Can I afford a $8,500 car?

Is your salary enough to buy a $8,500 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 $8,500 vehicle, this would mean saving up $1,700.
  • 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 $8,500, you would need to make at least $21,250 per year.