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How much are payments on a $10,000 car loan?
I’ve been shopping around for used cars and have found a few that I’m interested in, but I will need to take out a loan. I’ll need to borrow about $10,000. How much are payments on a car loan for that amount?
Jack Walsh · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s awesome you’ve found a few vehicles you’re interested in! Payments on a $10,000
car loan
vary based on the loan agreement and cannot be calculated without more information.That said, you can get a rough estimate to determine your payments. You’ll need to know:
- The interest rate
- Length of the agreement
The easiest way to find out what your payment will be is to get preapproval for a loan or use a loan calculator. Not all lenders are the same, and rates are impacted by many factors, including credit score and income, so it is best to shop around and compare offers to find the best rate.
Once you’ve been approved and decide on a vehicle, you’re going to need
car insurance
. Lenders will require full coverage for your financed vehicle, which can get expensive, but it doesn’t have to break the bank.Try using the number-one-rated car insurance app,
Jerry
, to find lower rates. Jerry collects quotes from more than 50 top insurance companies, like Travelers, Nationwide, and Allstate, in minutes for free. The average Jerry driver saves $879 a year on car insurance!View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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