Auto loan payment
What is the monthly payment on a $30,000 car loan?
A $30,000 auto loan at a 7% APR over 5 years has a monthly payment of about $594. Over the full term you'd repay roughly $35,642, including about $5,642 in interest. $30,000 is typical of a new midsize SUV or a well-equipped sedan. The table below shows the payment for every common rate and term.
$30,000 car loan: monthly payment by rate & term
Estimated principal & interest only, fixed rate. Pick the row for your APR and the column for your term.
| APR \ Term | 3 yr | 4 yr | 5 yr | 6 yr | 7 yr |
|---|---|---|---|---|---|
| 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 |
How the payment is calculated
A fixed auto loan amortizes: each month interest is charged on the balance and the rest of the payment reduces principal. The payment is principal × monthly rate ÷ (1 − (1 + monthly rate)−months). For $30,000 at 7% over 5 years that's about $594 a month.
Want to model your own rate, term, down payment, or trade-in? Use the auto loan calculator for the live payment and total interest.
What changes the real cost
- Term length: 6–7 year loans lower the payment but cost much more interest and risk going "underwater".
- Rate: your credit score drives the APR — a few points changes total cost significantly.
- Down payment & trade-in: reduce the amount financed and the payment.
- Tax & fees: often financed too, raising the real loan above the sticker.
Frequently asked questions
What is the monthly payment on a $30,000 car loan?
At a 7% APR over 5 years, a $30,000 auto loan costs about $594 per month. The exact payment depends on your rate and term — see the table above for the full range.
How much interest will I pay on a $30,000 car loan?
At 7% over 5 years you'd repay about $35,642 in total, of which roughly $5,642 is interest. A shorter term raises the monthly payment but cuts total interest sharply.
Does this include tax, title, and fees?
No. These are principal-and-interest estimates on the amount financed only. Sales tax, title, registration, and dealer fees are often rolled into the loan and would increase the amount and the payment.