$88,700 Car Loan

What's the monthly payment on a $88,700 car?
$
$
%
Monthly payment = $1,610
Total yearly payments = $19,322
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,539
3.0% $1,571
4.0% $1,602
5.0% $1,634
6.0% $1,666
7.0% $1,699
8.0% $1,732
9.0% $1,766
10.0% $1,800
Payments by Amount Down
Down Monthly Payment
$0 $2,013
$2,000 $1,967
$5,000 $1,899
$8,000 $1,831
$10,000 $1,786
$15,000 $1,672
Payments by Loan Length
Length Payment
24 months $3,089
36 months $2,103
48 months $1,610
60 months $1,315
72 months $1,118
84 months $978

Can I afford a $88,700 car?

Is your salary enough to buy a $88,700 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 $88,700 vehicle, this would mean saving up $17,740.
  • 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 $88,700, you would need to make at least $221,750 per year.