What's the monthly payment on a $67,000 car?
Purchase Price
Down Payment
Interest Rate
Loan Term
Monthly payment = $1,216
Total yearly payments = $14,595
Payments by Interest Rate
Payments by Amount Down
Down Monthly Payment $0 $1,520 $2,000 $1,475 $5,000 $1,407 $8,000 $1,339 $10,000 $1,293 $15,000 $1,180Payments by Loan Length
Can I afford a $67,000 car?
What's the salary needed for a $67,000 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 $67,000 vehicle, this would mean saving up $13,400.
- 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 $67,000, you would need to make at least $167,500 per year.
Yearly Household Spending on Transportation
Metro Area Spending Washington, D.C.$13,646 Anchorage$13,313 Baltimore$13,255 Phoenix$12,525 Houston$12,352 Denver$12,331 Boston$11,779 San Diego$11,704 Seattle$11,506 Detroit$11,260 Philadelphia$11,136 St. Louis$11,123 San Francisco$11,103 Minneapolis$11,049 Los Angeles$10,959 Miami$10,915 Tampa$10,692 Dallas$10,472 Atlanta$9,862 New York$9,255 Chicago$9,084 Honolulu$8,403ncG1vNJzZmivp6x7pK3LnKylmaSauqZ6wqikaJuRp3qtu8CnZm9vYGV9