How much will my monthly payment be on a $40k car?

"How can I calculate my monthly payments for a $40,000 car loan? I want to buy a new car. The price range that I am looking at is about $40k."

Answer
“Monthly payments on a $40k car loan are usually around $1000.
However, this will vary based on:
  • the length of the loan
  • the interest rate of the loan
  • how much of a down payment you make on the car
If you can’t afford $1000 per month payment, you could put down a larger down payment and opt for a longer car loan.”
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Johnny Puckett
Answered on Jul 28, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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