$9,600 Car Loan

What's the monthly payment on a $9,600 car?
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Monthly payment = $174
Total yearly payments = $2,091
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $167
3.0% $170
4.0% $173
5.0% $177
6.0% $180
7.0% $184
8.0% $187
9.0% $191
10.0% $195
Payments by Amount Down
Down Monthly Payment
$0 $218
$500 $206
$1,000 $195
$1,500 $184
$2,000 $172
$2,500 $161
Payments by Loan Length
Length Payment
24 months $334
36 months $228
48 months $174
60 months $142
72 months $121
84 months $106

Can I afford a $9,600 car?

Is your salary enough to buy a $9,600 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 $9,600 vehicle, this would mean saving up $1,920.
  • 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 $9,600, you would need to make at least $24,000 per year.