As of mid-September 2026, auto loan rates in the United States remain relatively stable after earlier declines, with strong-credit borrowers able to secure rates well below national averages. New-car loans typically start in the mid-to-high 5% range on average, while used-car rates run higher. Credit unions and manufacturer incentives continue to offer some of the lowest available APRs.
Current Average Auto Loan Rates (September 2026)
National averages fluctuate slightly by source and measurement period, but recent data shows:
- New car loans: Approximately 5.86%–6.4% (one weekly tracker showed 5.857% as of September 15, 2026; Experian reported 6.39% in Q1 2026 and around 6.35% in Q2).
- Used car loans: Roughly 6.7%–11.4% (weekly averages near 6.7%; Experian Q1 average 11.43%).
Sixty-month new-car loan rates hovered near 6.9% in mid-2026 according to some historical trackers. Rates have eased from peaks in prior years, supported by the Federal Reserve holding its target range near 3.50%–3.75%.
Auto Loan Rates by Credit Score (2026)
Your credit score remains the biggest driver of the rate you receive. Here are approximate averages from Experian’s Automotive Finance Market reports (Q1/Q2 2026, VantageScore model):
| Credit Tier | New Car APR | Used Car APR |
|---|---|---|
| Superprime (781+) | 4.41%–4.55% | ~6.30% |
| Prime (661–780) | 6.15%–6.23% | ~8.77%–8.81% |
| Near Prime (601–660) | ~9.67%–9.71% | ~13.9%–14.0% |
| Subprime (501–600) | ~13.4%–13.5% | ~19.1%–19.4% |
| Deep Subprime (300–500) | ~16.0%–16.1% | ~21.6%–21.8% |
Borrowers with excellent credit can often beat these averages, especially at credit unions.
Lowest Advertised Rates and Top Lenders
Credit unions frequently post the most competitive “as low as” rates for well-qualified members:
- Navy Federal Credit Union: New auto loans as low as 3.89% APR (12–36 months); longer terms start higher (e.g., 4.29% for 37–60 months). Used rates begin around 4.79%. Rates as of September 15, 2026.
- Other credit unions and banks advertise starting rates in the 4%–5.5% range for short-to-medium terms on new vehicles.
- Banks such as Bank of America and Capital One commonly start in the mid-to-high 5% range for top-tier applicants.
- Some specialized or local credit unions list promotional rates as low as 1.99%–3% for very short terms or specific conditions.
Manufacturer financing specials remain aggressive in September 2026, with many brands offering 0.9%, 1.9%, 2.49%, 2.99%, or 3.99% APR on select 2026 models for qualified buyers (often limited terms of 24–60 months). Examples include certain BMW, Honda, Chevrolet, and Acura models. These can be substantially lower than bank rates but usually require excellent credit and apply only to specific inventory.
New vs. Used Car Loans and Loan Terms
- New cars generally carry lower rates than used cars because the collateral holds more value.
- Shorter terms (36–48 or 60 months) almost always come with better rates than 72-, 84-, or 96-month loans.
- Longer terms reduce monthly payments but increase total interest paid and can raise the APR slightly.
Refinance rates for existing auto loans often fall in a similar or slightly higher range than purchase rates, depending on the vehicle’s age, mileage, and your current credit.
Factors That Affect Your Auto Loan Rate
Lenders consider:
- Credit score and history
- Loan term and amount
- New vs. used vehicle (and vehicle age/mileage for used)
- Down payment size
- Debt-to-income ratio and income stability
- Relationship discounts (autopay, existing accounts at banks/credit unions)
- Loan-to-value ratio
Excellent credit (typically 720–740+) unlocks the lowest advertised rates. A larger down payment can also help.
How to Secure the Best Auto Loan Rate in 2026
- Check and improve your credit score before applying.
- Get prequalified or preapproved from multiple sources (credit unions, banks, online lenders) using soft credit pulls.
- Compare offers side-by-side, including total interest cost—not just the monthly payment.
- Consider credit union membership; many offer open eligibility and lower rates than traditional banks.
- Shop manufacturer specials if buying new, but compare against independent financing.
- Negotiate the vehicle price separately from financing when possible.
- Aim for a term of 60 months or less if your budget allows.
Refinancing an existing high-rate auto loan can also yield savings if your credit has improved or market rates have dropped.
Bottom Line
In September 2026, auto loan rates for strong-credit borrowers frequently start in the high-3% to mid-5% range at credit unions and via manufacturer promotions, while overall averages sit in the high-5% to mid-6% area for new cars and higher for used. Credit score remains the dominant factor. Shop multiple lenders, prioritize shorter terms when feasible, and take advantage of relationship discounts or special financing offers to minimize interest costs.
Rates change frequently and depend heavily on individual qualifications. Always verify current offers directly with lenders or through reputable comparison tools for personalized quotes.
