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Current Car Loan Interest Rates

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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 each 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 used car. 


Current auto loan interest rates
Dates 60-month new car 48-month new car 36-month used car
5/11/2022 4.32% 4.30% 4.72%
5/4/2022 4.20% 4.18% 4.57%
4/27/2022 4.47% 4.44% 4.73%
4/20/2022 4.38% 4.34% 4.63%
4/13/2022 4.22% 4.18% 4.48%
4/6/2022 4.21% 4.17% 4.47%
3/30/2022 4.12% 4.12% 4.52%
3/23/2022 4.08% 4.08% 4.48%
3/16/2022 4.00% 4.02% 4.44%
3/9/2022 3.98% 4.00% 4.41%
3/2/2022 3.97% 3.99% 4.40%
2/23/2022 3.99% 4.00% 4.42%
2/16/2022 3.97% 3.98% 4.41%

What’s the best credit score for a low-interest loan?

Credit scores of 740 or higher — what’s considered excellent credit — will help you qualify for the lowest auto loan interest rates. But even if your credit score is lower, you may still qualify for a decent rate. 

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 — 580 or lower — some lenders may offer higher interest rates or longer loan terms, which can be a risk. 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 also have more predictable resale value down the line than older cars and that predictability results in a lower interest rate.

What are other important car ownership costs to consider?

Beyond the cost of monthly car loan payments, vehicle ownership costs can add up. One of the most significant being car insurance. Make sure you understand car insurance rates and the best car insurance companies available in order to select the best car insurance coverage for your needs.

Estimate your monthly payments with Bankrate’s auto loan calculator.

Written by
Rebecca Betterton
Auto Loans Reporter
Rebecca Betterton is the auto loans reporter for Bankrate. She specializes in assisting readers in navigating the ins and outs of securely borrowing money to purchase a car.
Edited by
Auto loans editor