$8,900 Car Loan

What's the monthly payment on a $8,900 car?
$
$
%
Monthly payment = $162
Total yearly payments = $1,939
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $154
3.0% $158
4.0% $161
5.0% $164
6.0% $167
7.0% $170
8.0% $174
9.0% $177
10.0% $181
Payments by Amount Down
Down Monthly Payment
$0 $202
$500 $191
$1,000 $179
$1,500 $168
$2,000 $157
$2,500 $145
Payments by Loan Length
Length Payment
24 months $310
36 months $211
48 months $162
60 months $132
72 months $112
84 months $98

Can I afford a $8,900 car?

Is your salary enough to buy a $8,900 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 $8,900 vehicle, this would mean saving up $1,780.
  • 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 $8,900, you would need to make at least $22,250 per year.