Can I afford a $31,300 car or truck? Below is the amortization schedule for a 31,300 dollar loan for 5 years. It shows how much of each payment goes to interest and principal. A higher downpayment and lower interest rates will have a lower monthly payment.

The amortization schedule below shows the loan balance as well as the amount of the payment that goes interest and principal. Car generally depreciate quickly so it's best not to have a longer term loan. Make sure to factor in your gas costs too. This can add up quickly if you drive a lot of miles. Insurance is another large cost. Speak with a local insurance agent to understand the insurance costs of your vehicle.