$88,300 Car Loan

What's the monthly payment on a $88,300 car?
$
$
%
Monthly payment = $1,603
Total yearly payments = $19,235
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,533
3.0% $1,564
4.0% $1,595
5.0% $1,627
6.0% $1,659
7.0% $1,692
8.0% $1,725
9.0% $1,758
10.0% $1,792
Payments by Amount Down
Down Monthly Payment
$0 $2,004
$2,000 $1,958
$5,000 $1,890
$8,000 $1,822
$10,000 $1,777
$15,000 $1,663
Payments by Loan Length
Length Payment
24 months $3,075
36 months $2,093
48 months $1,603
60 months $1,309
72 months $1,113
84 months $974

Can I afford a $88,300 car?

Is your salary enough to buy a $88,300 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 $88,300 vehicle, this would mean saving up $17,660.
  • 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 $88,300, you would need to make at least $220,750 per year.