Get current auto loan rates and choose a loan that’s right for you

Car loan interest rates change frequently, so it’s important to keep track of them. Your loan’s interest rate influences how much you’re going to pay for month to month. And a lower interest rate can mean thousands of dollars in savings. Our rate table can help you know the best time to buy a new or a used car.

Current auto loan interest rates
Dates 60-month new car 48-month new car 36-month used car
12/5/2018 4.90% 4.84% 5.54%
11/28/2018 4.93% 4.87% 5.58%
11/21/2018 4.94% 4.88% 5.57%
11/14/2018 4.95% 4.89% 5.60%
11/6/2018 4.93% 4.87% 5.57%
10/31/2018 4.93% 4.87% 5.57%
10/24/2018 4.90% 4.83% 5.51%
10/17/2018 4.87% 4.80% 5.45%
10/10/2018 4.84% 4.77% 5.44%
10/3/2018 4.81% 4.74% 5.39%
9/26/2018 4.79% 4.71% 5.37%
9/19/2018 4.80% 4.73% 5.36%
9/12/2018 4.79% 4.72% 5.36%

What’s 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 may still qualify for a decent rate. If you don’t know your credit score, you can check it with myBankrate.

How can I get the best car loan interest rate?

Borrowers with a lower credit score may see higher auto interest rates. If your credit score is on the lower end (around 500), some lenders may offer higher interest rates. Taking steps to improve your credit score can go a long way toward getting a better interest rate.

What’s the difference between new and used car interest rates?

Loans for newer cars tend to have lower interest rates than those for used cars. Lenders see newer cars as less of a risk — they’re less likely to break down, and lenders can identify exactly how much they’ll depreciate over time. Newer cars have more predictable resale value down the line than newer cars, and that predictability results in a lower interest rate.

Estimate your monthly payments with our handy Auto Loan Calculator.