$97,000 Car Loan

What's the monthly payment on a $97,000 car?
$
$
%
Monthly payment = $1,761
Total yearly payments = $21,130
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,684
3.0% $1,718
4.0% $1,752
5.0% $1,787
6.0% $1,822
7.0% $1,858
8.0% $1,894
9.0% $1,931
10.0% $1,968
Payments by Amount Down
Down Monthly Payment
$0 $2,201
$2,000 $2,156
$5,000 $2,088
$8,000 $2,020
$10,000 $1,974
$15,000 $1,861
Payments by Loan Length
Length Payment
24 months $3,378
36 months $2,300
48 months $1,761
60 months $1,438
72 months $1,223
84 months $1,070

Can I afford a $97,000 car?

Is your salary enough to buy a $97,000 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 $97,000 vehicle, this would mean saving up $19,400.
  • 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 $97,000, you would need to make at least $242,500 per year.