$89,000 Car Loan

What's the monthly payment on a $89,000 car?
$
$
%
Monthly payment = $1,616
Total yearly payments = $19,387
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,545
3.0% $1,576
4.0% $1,608
5.0% $1,640
6.0% $1,672
7.0% $1,705
8.0% $1,738
9.0% $1,772
10.0% $1,806
Payments by Amount Down
Down Monthly Payment
$0 $2,020
$2,000 $1,974
$5,000 $1,906
$8,000 $1,838
$10,000 $1,793
$15,000 $1,679
Payments by Loan Length
Length Payment
24 months $3,100
36 months $2,110
48 months $1,616
60 months $1,319
72 months $1,122
84 months $981

Can I afford a $89,000 car?

Is your salary enough to buy a $89,000 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 $89,000 vehicle, this would mean saving up $17,800.
  • 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 $89,000, you would need to make at least $222,500 per year.