CalculynWhat is the monthly payment on a $30k car loan?
At 7% APR over 60 months, a $30,000 car loan costs about $594 a month, with $5,642 in total interest.
Payment by loan term
| Term | Monthly | Total interest |
|---|---|---|
| 36 months | $926 | $3,347 |
| 48 months | $718 | $4,483 |
| 60 months | $594 | $5,642 |
| 72 months | $511 | $6,826 |
| 84 months | $453 | $8,034 |
Payment by interest rate (60 months)
Example rates, not a quote. Your rate depends on credit, lender and vehicle age.
| APR | Monthly | Total interest |
|---|---|---|
| 5% | $566 | $3,968 |
| 6% | $580 | $4,799 |
| 7% | $594 | $5,642 |
| 8% | $608 | $6,498 |
| 10% | $637 | $8,245 |
How it's calculated
Monthly payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount borrowed, r the monthly rate (APR ÷ 12) and n the number of months. Taxes, fees and a down payment change the amount you finance.
Change the numbers →
Open the Car Payment Calculator with these values filled in.
These figures are educational estimates, not financial advice.
Related answers
What is the monthly payment on a $15k car loan?What is the monthly payment on a $20k car loan?What is the monthly payment on a $25k car loan?What is the monthly payment on a $35k car loan?What is the monthly payment on a $40k car loan?What is the monthly payment on a $45k car loan?
All answers →