$85,500 Car Loan

What's the monthly payment on a $85,500 car?
$
$
%
Monthly payment = $1,552
Total yearly payments = $18,625
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,484
3.0% $1,514
4.0% $1,544
5.0% $1,575
6.0% $1,606
7.0% $1,638
8.0% $1,670
9.0% $1,702
10.0% $1,735
Payments by Amount Down
Down Monthly Payment
$0 $1,940
$2,000 $1,895
$5,000 $1,827
$8,000 $1,759
$10,000 $1,713
$15,000 $1,600
Payments by Loan Length
Length Payment
24 months $2,978
36 months $2,027
48 months $1,552
60 months $1,267
72 months $1,078
84 months $943

Can I afford a $85,500 car?

Is your salary enough to buy a $85,500 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 $85,500 vehicle, this would mean saving up $17,100.
  • 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 $85,500, you would need to make at least $213,750 per year.