$97,300 Car Loan

What's the monthly payment on a $97,300 car?
$
$
%
Monthly payment = $1,766
Total yearly payments = $21,195
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,689
3.0% $1,723
4.0% $1,758
5.0% $1,793
6.0% $1,828
7.0% $1,864
8.0% $1,900
9.0% $1,937
10.0% $1,974
Payments by Amount Down
Down Monthly Payment
$0 $2,208
$2,000 $2,162
$5,000 $2,094
$8,000 $2,026
$10,000 $1,981
$15,000 $1,867
Payments by Loan Length
Length Payment
24 months $3,389
36 months $2,307
48 months $1,766
60 months $1,442
72 months $1,227
84 months $1,073

Can I afford a $97,300 car?

Is your salary enough to buy a $97,300 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 $97,300 vehicle, this would mean saving up $19,460.
  • 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 $97,300, you would need to make at least $243,250 per year.