Current interest rates on auto loans
Get current auto loan rates and choose a loan that’s right for you
Auto loan interest rates change frequently, so it is important to follow them. The interest rate on your loan influences the amount you will pay from month to month. And a lower interest rate can mean thousands of dollars in savings. Our price list can help you know the best time to buy a new or used car.
| Appointment | New car 60 months | New car 48 months | Used car 36 months |
|---|---|---|---|
| 08/18/2021 | 4.15% | 4.15% | 4.41% |
| 8/11/2021 | 4.15% | 4.15% | 4.41% |
| 08/04/2021 | 4.15% | 4.15% | 4.41% |
| 07/28/2021 | 4.15% | 4.15% | 4.41% |
| 07/21/2021 | 4.18% | 4.18% | 4.50% |
| 08/04/2021 | 4.18% | 4.18% | 4.50% |
| 7/7/2021 | 4.18% | 4.18% | 4.50% |
| 06/30/2021 | 4.18% | 4.18% | 4.49% |
| 06/23/2021 | 4.18% | 4.18% | 4.49% |
| 06/16/2021 | 4.11% | 4.10% | 4.42% |
| 6/9/2021 | 4.08% | 4.07% | 4.38% |
| 2/6/2021 | 4.08% | 4.07% | 4.38% |
| 05/26/2021 | 4.12% | 4.11% | 4.42% |
| 05/19/2021 | 4.13% | 4.11% | 4.43% |
| 12/5/2021 | 4.16% | 4.15% | 4.44% |
| 5/5/2021 | 4.15% | 4.14% | 4.44% |
| 04/28/2021 | 4.16% | 4.14% | 4.44% |
| 03/24/2021 | 4.17% | 4.16% | 4.47% |
| 03/17/21 | 4.15% | 4.15% | 4.49% |
What is the best credit score for a low interest loan?
Credit scores of 719 (for a new car) or 655 (for a used car) or higher will help you qualify for the lowest auto loan interest rates. Even if your credit score is lower, you can still qualify for a decent rate. If you don’t know your credit score, you can check it for free on Bankrate.
How to get the best interest rate for a car loan?
Borrowers with a lower credit score may see higher auto interest rates. If your credit score is low (around 500), some lenders may offer higher interest rates. Taking steps to improve your credit score can go a long way in getting a better interest rate.
What is the difference between new and used car interest rates?
Loans for new cars tend to have lower interest rates than used cars. Lenders view newer cars as less risky – they’re less likely to break down, and lenders can identify exactly how much they’ll depreciate over time. Newer cars have a more predictable resale value across the board than newer cars, and that predictability translates into a lower interest rate.
What are other important car ownership costs to consider?
Beyond the cost of monthly auto loan payments, auto insurance can represent a significant expense. Make sure you understand auto insurance rates and the best auto insurance companies available in order to select the best auto insurance coverage for your needs.
Estimate your monthly payments with our handy auto loan calculator.