$88,900 Car Loan

What's the monthly payment on a $88,900 car?
$
$
%
Monthly payment = $1,614
Total yearly payments = $19,365
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,543
3.0% $1,574
4.0% $1,606
5.0% $1,638
6.0% $1,670
7.0% $1,703
8.0% $1,736
9.0% $1,770
10.0% $1,804
Payments by Amount Down
Down Monthly Payment
$0 $2,017
$2,000 $1,972
$5,000 $1,904
$8,000 $1,836
$10,000 $1,790
$15,000 $1,677
Payments by Loan Length
Length Payment
24 months $3,096
36 months $2,108
48 months $1,614
60 months $1,318
72 months $1,121
84 months $980

Can I afford a $88,900 car?

Is your salary enough to buy a $88,900 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 $88,900 vehicle, this would mean saving up $17,780.
  • 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 $88,900, you would need to make at least $222,250 per year.