$9,500 Car Loan

What's the monthly payment on a $9,500 car?
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Monthly payment = $172
Total yearly payments = $2,069
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $165
3.0% $168
4.0% $172
5.0% $175
6.0% $178
7.0% $182
8.0% $186
9.0% $189
10.0% $193
Payments by Amount Down
Down Monthly Payment
$0 $216
$500 $204
$1,000 $193
$1,500 $182
$2,000 $170
$2,500 $159
Payments by Loan Length
Length Payment
24 months $331
36 months $225
48 months $172
60 months $141
72 months $120
84 months $105

Can I afford a $9,500 car?

Is your salary enough to buy a $9,500 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 $9,500 vehicle, this would mean saving up $1,900.
  • 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 $9,500, you would need to make at least $23,750 per year.