With good credit, the monthly payment on a $30,000 new car loan over 36 months is $923.57 at 6.8% APR. Total interest: $3,249. Payoff date: January 2028.
New Car: Monthly Payment by Credit Score
Credit Tier
Rate (APR)
Monthly Payment
Total Interest
● Excellent (750+)
5.2%
$901.82
$2,466
● Good (700–749)
6.8%
$923.57
$3,249
● Fair (640–699)
10.5%
$975.07
$5,103
● Poor (below 640)
15.8%
$1,051.75
$7,863
New vs Used Car Rates (Good Credit)
Loan Type
Rate
Monthly Payment
Total Interest
New Car
6.8%
$923.57
$3,249
Used Car
9.2%
$956.79
$4,444
Payment by Loan Term (Good Credit, New Car)
Term
Monthly Payment
Total Interest
36 months current
$923.57
$3,249
48 months
$715.61
$4,349
60 months
$591.21
$5,473
72 months
$508.59
$6,619
84 months
$449.85
$7,788
How to Qualify for an Auto Loan
For a $30,000 auto loan, most lenders look for a minimum credit score of 580–620, though scores above 700 unlock the best new-car rates near 5.2%. Your debt-to-income ratio should be below 45%. New car loans typically carry lower rates than used — expect a 2.4% premium for used vehicles with good credit. Dealer financing and bank pre-approval are worth comparing before signing; credit unions often beat both on rate.