Car loan payment
Monthly Payment on a $30,000 Car Loan
A $30,000 car loan costs about $585 a month over 60 months at 6.35%, the average new-car rate in Experian's Q2 2026 data, with $5,093 in total interest. Over 72 months it is about $502 a month, and over 48 months about $709. Your credit score can move the payment by $173 a month.
$30,000 car loan at a glance
- New car, 60 months at 6.35%: $585 a month, $5,093 interest.
- Used car, 60 months at 11.19%: $655 a month, $9,307 interest.
- Best vs worst credit (new, 60 months): $558 vs $731 a month, $10,394 more interest.
- Income for the 60-month payment: about $70,185 a year at 10% of gross pay.
$30,000 Car Loan Payment by Loan Term
| Term | New car (6.35%) | Total interest | Used car (11.19%) | Total interest |
|---|---|---|---|---|
| 36 months (3 years) | $917/mo | $3,027 | $985/mo | $5,455 |
| 48 months (4 years) | $709/mo | $4,050 | $778/mo | $7,351 |
| 60 months (5 years) | $585/mo | $5,093 | $655/mo | $9,307 |
| 72 months (6 years) | $502/mo | $6,155 | $574/mo | $11,324 |
| 84 months (7 years) | $443/mo | $7,238 | $517/mo | $13,401 |
Our take: stretching $30,000 from 60 to 84 months lowers the new-car payment by $142 but adds $2,145 in interest, and you stay underwater on the car for longer. Our Car Loan Cost Index puts every term side by side.
$30,000 Car Loan Payment by Credit Score
Average APRs by credit tier, 60 months, Experian Q2 2026:
| Credit tier | New APR | New payment | New interest | Used APR | Used payment | Used interest |
|---|---|---|---|---|---|---|
| Super prime (781–850) | 4.41% | $558 | $3,484 | 6.29% | $584 | $5,042 |
| Prime (661–780) | 6.15% | $582 | $4,925 | 8.81% | $620 | $7,199 |
| Near prime (601–660) | 9.71% | $633 | $7,988 | 13.93% | $697 | $11,818 |
| Subprime (501–600) | 13.52% | $691 | $11,436 | 19.1% | $780 | $16,792 |
| Deep subprime (300–500) | 16.11% | $731 | $13,878 | 21.62% | $822 | $19,326 |
What each tier costs on the same loan is in our Credit Score Cost Index. To see where your score sits, read what credit score you need to buy a car.
How Much Do You Need to Make for a $30,000 Car Loan?
About $70,185 a year. A common guideline keeps the car payment near 10% of gross pay, and $585 a month is 10% of $5,849 a month. Insurance, fuel and upkeep come on top, and existing debts lower what a lender will approve. See what $75,000 a year covers in rent, a car and a home.
Start from your own income and debts in the car affordability calculator, or read how much car you can afford (the 20/4/10 rule).
Paying Extra on a $30,000 Car Loan
On a 60-month loan at 6.35%, a fixed extra amount every month:
| Extra each month | New payment | Paid off | Interest saved |
|---|---|---|---|
| +$50 | $635/mo | 5 months early | $478 |
| +$100 | $685/mo | 10 months early | $873 |
| +$200 | $785/mo | 17 months early | $1,487 |
Check for prepayment penalties first: should you pay off your car loan early? Run your own loan, trade-in or balloon in the auto loan calculator.
Frequently asked questions
- About $585 a month over 60 months at 6.35%, the average new-car rate in Experian's Q2 2026 data, with $5,093 in total interest. Over 48 months it is about $709, and over 72 months about $502. At the 11.19% average used-car rate, 60 months costs about $655 a month.
- About $502 at 6.35% for a new car, or $574 at 11.19% for a used one. Compared with 60 months, the longer term lowers the new-car payment by about $83 but adds about $1,063 in interest.
- At the 6.35% average new-car rate, from about $3,027 over 36 months to $7,238 over 84 months. At the 11.19% used-car average, a 60-month loan costs about $9,307 in interest. A lower rate or a shorter term cuts it the most.
- Lenders set their own minimums, so there is no single cutoff, but your score sets the rate. Over 60 months, super prime borrowers (781–850) averaged 4.41% on new cars, about $558 a month, while deep subprime borrowers (300–500) averaged 16.11%, about $731 a month and $10,394 more in interest (Experian, Q2 2026).
- About $70,185 a year. A common guideline keeps the car payment near 10% of gross pay, and $585 a month (60 months at 6.35%) is 10% of $5,849 a month. Insurance, fuel and upkeep come on top, and existing debts lower what a lender will approve.
- Usually 60 months, if the payment fits your budget. The 72-month loan saves about $83 a month but costs about $1,063 more in interest, and a longer loan keeps you owing more than the car is worth for longer. Our take: pick the shortest term your budget can carry.
Other loan amounts
$10,000 car loan$15,000 car loan$20,000 car loan$25,000 car loan$40,000 car loan$50,000 car loan
How we work these out. Payments use standard fixed-rate amortization on the amount borrowed, the same math as our auto loan calculator. Rates are Experian, State of the Automotive Finance Market averages for Q2 2026: 6.35% new and 11.19% used across all borrowers, plus the average by credit tier. Your own rate depends on your credit, the lender, the car and the term. Taxes, fees, a down payment and a trade-in are not included. See the average car payment for what buyers actually pay.
These are educational estimates, not financial advice or a loan offer.