$9,800 Car Loan

What's the monthly payment on a $9,800 car?
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Monthly payment = $178
Total yearly payments = $2,135
Payments by Interest Rate
Interest Rate Monthly Payment
2.0% $170
3.0% $174
4.0% $177
5.0% $181
6.0% $184
7.0% $188
8.0% $191
9.0% $195
10.0% $199
Payments by Amount Down
Down Monthly Payment
$0 $222
$500 $211
$1,000 $200
$1,500 $188
$2,000 $177
$2,500 $166
Payments by Loan Length
Length Payment
24 months $341
36 months $232
48 months $178
60 months $145
72 months $124
84 months $108

Can I afford a $9,800 car?

Is your salary enough to buy a $9,800 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 $9,800 vehicle, this would mean saving up $1,960.
  • 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 $9,800, you would need to make at least $24,500 per year.