Camera-monitor systems (CMS) are increasingly used in driving. CMS separates the driver's sight line from the camera view, due to the lack of mirror reflection, only changing the camera's visual axis angle may affect the driver's rear view perception. While previous research has explored camera height and field of view, the effects of horizontal and vertical viewing angles alone remain unclear. This study aimed to evaluate how the horizontal viewing angle and vertical viewing angle of CMS camera affect distance estimation and car-following tasks. By changing the horizontal and vertical viewing angle, different self-vehicle references and horizon positions were formed in the image. Two experiments were conducted with the CMS around the steering wheel (Experiment 1) and at the bottom of the A-pillar (Experiment 2). Independent variables were the horizontal viewing angle (reference scale: 1/4, 1/3, 1/2) and vertical viewing angle (horizon position: 1/2, 1/3). Dependent variables included distance estimation error ratio and following distance. Experiment 1 demonstrated a significant interaction effect: a smaller reference scale and higher horizon position reduced distance underestimation. Additionally, a smaller reference scale for the participants' self-vehicle resulted in shorter following distances. In Experiment 2, the distance estimation outcomes on the left display aligned with those of Experiment 1; however, the influence of the viewing angle was diminished on the right display. The study suggests CMS design should balance vehicle reference inclusion with environmental cues, enhancing distance perception and driving safety. The consistency between CMS design and driver familiarity also needs to be considered.