How much car can I afford for $250 a month?
A $250 monthly car payment buys a car of about $14,603 with $3,000 down and a 60-month loan at 7% APR. Try your own price below.
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Car price for a $250 a month payment, by loan term
Prices include 7% sales tax and assume 7% APR.
| Down payment | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| $0 | $7,567 | $9,757 | $11,800 | $13,704 | $15,481 |
| $3,000 | $10,371 | $12,561 | $14,603 | $16,508 | $18,284 |
| $5,000 | $12,240 | $14,430 | $16,472 | $18,377 | $20,154 |
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How your interest rate changes what $250 a month buys
| APR | 48 months | 60 months | 72 months |
|---|---|---|---|
| 5% | $12,949 | $15,185 | $17,311 |
| 7% | $12,561 | $14,603 | $16,508 |
| 10% | $12,016 | $13,800 | $15,416 |
| 14% | $11,354 | $12,845 | $14,143 |
A $250 payment fits comfortably on an income of about $48,000 a year. See how much car you can afford on $50,000 or use the full car affordability calculator.
Frequently asked questions
How much car can I afford for $250 a month?
About $14,603 with $3,000 down and a 60-month loan at 7% APR, after 7% sales tax. A 72-month loan stretches that to $16,508, but you pay more interest.
What loan amount does a $250 car payment cover?
$12,625 over 60 months at 7% APR, or $10,440 over 48 months.
What income do I need for a $250 car payment?
Keeping the payment plus about $350 a month for insurance, gas and upkeep within 15% of gross income needs roughly $48,000 a year.
Other monthly payments
Estimates only. Your lender’s rate and fees decide the final figures.
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