$8,600 Car Loan

What's the monthly payment on a $8,600 car?
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Monthly payment = $156
Total yearly payments = $1,873
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $149
3.0% $152
4.0% $155
5.0% $158
6.0% $162
7.0% $165
8.0% $168
9.0% $171
10.0% $174
Payments by Amount Down
Down Monthly Payment
$0 $195
$500 $184
$1,000 $172
$1,500 $161
$2,000 $150
$2,500 $138
Payments by Loan Length
Length Payment
24 months $300
36 months $204
48 months $156
60 months $127
72 months $108
84 months $95

Can I afford a $8,600 car?

Is your salary enough to buy a $8,600 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 $8,600 vehicle, this would mean saving up $1,720.
  • 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 $8,600, you would need to make at least $21,500 per year.