$97,700 Car Loan

What's the monthly payment on a $97,700 car?
$
$
%
Monthly payment = $1,774
Total yearly payments = $21,282
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $1,696
3.0% $1,730
4.0% $1,765
5.0% $1,800
6.0% $1,836
7.0% $1,872
8.0% $1,908
9.0% $1,945
10.0% $1,982
Payments by Amount Down
Down Monthly Payment
$0 $2,217
$2,000 $2,172
$5,000 $2,103
$8,000 $2,035
$10,000 $1,990
$15,000 $1,877
Payments by Loan Length
Length Payment
24 months $3,403
36 months $2,316
48 months $1,774
60 months $1,448
72 months $1,232
84 months $1,077

Can I afford a $97,700 car?

Is your salary enough to buy a $97,700 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 $97,700 vehicle, this would mean saving up $19,540.
  • 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 $97,700, you would need to make at least $244,250 per year.