How much car can I afford for $300 a month?
A $300 monthly car payment buys a car of about $16,963 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 $300 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 | $9,080 | $11,708 | $14,159 | $16,445 | $18,577 |
| $3,000 | $11,884 | $14,512 | $16,963 | $19,249 | $21,381 |
| $5,000 | $13,753 | $16,381 | $18,832 | $21,118 | $23,250 |
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How your interest rate changes what $300 a month buys
| APR | 48 months | 60 months | 72 months |
|---|---|---|---|
| 5% | $14,978 | $17,661 | $20,213 |
| 7% | $14,512 | $16,963 | $19,249 |
| 10% | $13,858 | $16,000 | $17,938 |
| 14% | $13,064 | $14,853 | $16,410 |
A $300 payment fits comfortably on an income of about $52,000 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 $300 a month?
About $16,963 with $3,000 down and a 60-month loan at 7% APR, after 7% sales tax. A 72-month loan stretches that to $19,249, but you pay more interest.
What loan amount does a $300 car payment cover?
$15,151 over 60 months at 7% APR, or $12,528 over 48 months.
What income do I need for a $300 car payment?
Keeping the payment plus about $350 a month for insurance, gas and upkeep within 15% of gross income needs roughly $52,000 a year.
Other monthly payments
Estimates only. Your lender’s rate and fees decide the final figures.
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