$9,700 Car Loan

What's the monthly payment on a $9,700 car?
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Monthly payment = $176
Total yearly payments = $2,113
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $168
3.0% $172
4.0% $175
5.0% $179
6.0% $182
7.0% $186
8.0% $189
9.0% $193
10.0% $197
Payments by Amount Down
Down Monthly Payment
$0 $220
$500 $209
$1,000 $197
$1,500 $186
$2,000 $175
$2,500 $163
Payments by Loan Length
Length Payment
24 months $338
36 months $230
48 months $176
60 months $144
72 months $122
84 months $107

Can I afford a $9,700 car?

Is your salary enough to buy a $9,700 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 $9,700 vehicle, this would mean saving up $1,940.
  • 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 $9,700, you would need to make at least $24,250 per year.