Reduce Your Monthly Car Payemnts
Reduce Your Car Payments By
Saving Now for a Larger Down Payment

If you are planning to buy a car, you can reduce your monthly payments by increasing your down payment. Increase your down payment with an automatic savings plan.

Sample monthly loan payments for a $30,000 car. (Assumes a 7% interest rate.)

Down payment

Loan amount

Monthly payments
36 month loan 48 month loan

- 0 -

$30,000

$926

$718

$2,500

$27,500

$849

$659

$5,000

$25,000

$772

$599

$10,000

$20,000

$617

$479

Increasing Your Down Payment Reduces Your Month Loan Payment
The larger your down payment, the lower your monthly payments.  You may already have some funds you intend to use for the down payment.  Here is a simple calculator to help you determine how additional saving can reduce your payments.

Monthly Car Loan Payment Calculator
Cost of the car $
Down payment saved so far $
Annual interest rate %
Number of periods
Loan amount $
Monthly payment $

Saving is Easier with an Automatic Savings Plan
Decide how much you want to save and over what period. Then find out how much you need to put aside each month to have the larger down payment you want.

Save to increase your down payment
Amount you want to save $
Interest rate you expect to earn %
How many months to save
Monthly savings needed $

Interest is compounded monthly. This calculator is to be used for estimation purposes only. The financial institution is not responsible for its accuracy and the results are not guaranteed.

Start Your Automatic Savings Today
There is no easier way to save than with an automatic savings plan. If you are already using direct deposit for your paycheck, have First National Bank and Trust transfer the amount each month. Here is an Automatic Transfer Authorization form to help you enroll.  If you are not already using direct deposit for your paycheck, here is a Payroll Direct Deposit form to help you get started. You can also call a service representative at 800-667-4401 or email for more information.


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