Monthly payment on a $30,000 car loan
Financing $30,000 at 7.5% APR for 60 months costs about $601 a month and $6,068 in total interest. Your actual APR depends mostly on credit score and whether the car is new or used — find your rate in the table, or enter a quote in the calculator.
$601.14 / month
- Amount financed
- $30,000
- Sales tax
- $0
- Total interest
- $6,068
Payment by APR and term
Monthly payment on $30,000 financed, by annual percentage rate and loan length.
| APR | 36 mo | 48 mo | 60 mo | 72 mo | 84 mo |
|---|---|---|---|---|---|
| 4% | $886 | $677 | $552 | $469 | $410 |
| 5% | $899 | $691 | $566 | $483 | $424 |
| 6% | $913 | $705 | $580 | $497 | $438 |
| 7% | $926 | $718 | $594 | $511 | $453 |
| 8% | $940 | $732 | $608 | $526 | $468 |
| 9% | $954 | $747 | $623 | $541 | $483 |
| 10% | $968 | $761 | $637 | $556 | $498 |
| 12% | $996 | $790 | $667 | $587 | $530 |
| 15% | $1,040 | $835 | $714 | $634 | $579 |
| 18% | $1,085 | $881 | $762 | $684 | $631 |
Income guideline
The widely used 20/4/10 rule suggests 20% down, a loan of no more than four years, and a car payment under 10% of gross monthly income. Keeping $601 a month under that line means a gross income of about $72,137 a year. Insurance, fuel, and maintenance often add as much again, so many buyers aim lower.
The amount financed is the price after your down payment and trade-in, plus any sales tax and fees you roll into the loan. To see what sales tax adds in your state, use the full auto loan calculator or its state pages.