A monthly payment on a $7000 loan is between $120.00 to $400.00 and sometimes more.
The actual monthly payment on the $7,000.00 loan will vary significantly depending on the APR interest rate as well as the loan term which is how many years the loan is for and your credit score.
If the $7,000.00 loan has an 8% APR and it's a 5 year or 60 month loan term, and you have good credit, then the payment for the $7,000.00 loan might be around $133.00 to $205.00 per month.
If the $7,000.00 loan has a higher APR like 30% then your monthly payment would be around $226.00 to $255.00 per month or more.
Examples of monthly payments and interest rates on a $7,000.00 loan include.
For excellent credit and an 8% APR for 60 months or 5 years, the payment on the $7,000.00 loan is around $122.00 to $133.00 per month.
For good credit and a 12% APR for 60 months or 5 years, the payment on the $7,000.00 loan is around $133.00 to $147.00 per month.
For Fair/Average credit with a 20% APR for 60 months or 5 years the monthly payment for the $7,000.00 loan is around $223.00 per month.
And with a higher APR like around 30% APR for 60 months or 5 years, the monthly payment would be around $226.00 to $255.00 per month.
Lower rates mean lower payments on the loan.
Longer loan terms such as 60 month loan terms on the $7,000.00 loan will mean you have lower monthly payments, but more interest paid overall.
And your credit score also directly impacts the APR you're offered for the $7,000.00 loan.