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.
Last reviewed June 20, 2026. Figures based on Federal Reserve auto-loan rate data. Estimates for general education, not financial advice.