30% of $25,000

How it works

To find a percentage of any number, multiply it by the percentage and divide by 100: result = base × (percent ÷ 100). For $25,000 at 30%, that’s $25,000 × 0.30 = $7,500. A deposit of this size on a car purchase is well above the 10-20% many lenders ask for as a minimum, and putting more cash down upfront reduces both the size of the loan and the total interest charged over its term — see Moneysmart’s guide to car loans for how to compare loan offers.

Worked example

Tom is a fitter and turner living in Ballarat, Victoria, and has found a well-kept second-hand ute listed for $25,000. He’s saved a solid deposit and wants to put down more than the dealer’s minimum to keep his repayments manageable. The calculation: $25,000 × 30% = $7,500. Tom pays that upfront from savings and finances the remaining $17,500 through a car loan with his credit union. Because he’s borrowing well under the full price, he expects a lower interest rate than if he’d financed the whole $25,000 — and smaller monthly repayments for the rest of the loan term.