Auto Loan Rate Trends

Current Auto Loan Rate Trends

New Auto Loan fell 0.006 points this week to 5.945%, down from 5.951% last week.

New and used auto loan rates are among the most rate-sensitive consumer loan products. Rates move quickly in response to Federal Reserve policy, lender competition, and vehicle inventory levels. Credit unions consistently offer lower APRs than banks for auto financing, often 1 to 3 percentage points lower, because they operate as not-for-profit cooperatives.

The spread between new and used auto loan rates reflects the higher risk profile of used vehicles (older collateral, higher depreciation). Borrowers with strong credit scores (720+) typically qualify for the best available rates, while scores below 660 often result in rates 4 to 8 percentage points above the averages shown here.

These averages are calculated from 19,333 verified auto loan rate quotes collected across 2,562 banks and credit unions reporting from all 50 states, updated daily by MonitorBankRates.com's proprietary systems. Rates reflect what real licensed institutions are actually quoting to borrowers, not teaser rates or estimates.

State-Level New Auto Loan Rate Heatmap

Hover over a state to see its current New Auto Loan average APR and weekly change. Click any state to view its complete historical trend report.

States colored by quartile of current New Auto Loan APR averages. Hover any state for its rate, rank and weekly change; click to open that state’s trend page. Rates shown to two decimals on the map, three in the tooltip.

Download map (PNG) Free to reuse with the citation shown on the image.

Weekly Auto Loan Rate Reports

Weekly average auto loan rate data releases from MonitorBankRates.com.

For Media, Researchers & Financial Professionals

The auto loan rate averages on this page are calculated from our database of over 8,500 banks and credit unions actively reporting APRs across all 50 states. Our proprietary systems collect and verify lending rates daily, tracking what real licensed institutions are actually offering to borrowers, not dealer-arranged or promotional financing.

Unlike rate comparison sites that show only a handful of institutions, MonitorBankRates maintains a continuously updated auto loan rate database spanning community banks, regional lenders, large institutions, and credit unions across all 50 states. This scale allows us to calculate averages that reflect the full lending landscape, not just the most aggressive advertisers, giving consumers, journalists, and financial professionals a more accurate benchmark for current auto loan APRs.

Journalists, financial professionals, and academic researchers are welcome to cite and reference this data for editorial, research, and educational purposes. Please attribute MonitorBankRates.com when referencing our figures, and optionally link to https://www.monitorbankrates.com/auto-loan-rates/trends/. For custom data pulls, contact us here.

Auto Loan Rate Trends

Daily average rates since April 13, 2026. Hover over the chart to see exact rates for each day.

Averages from 19,333 rate quotes across 2,562 U.S. banks & credit unions • As of Oct 16, 2026

Historical Auto Loan Rate Trends

Quarterly average rates at U.S. credit unions, 1994 to present. Different methodology from the daily chart above, this series reflects portfolio rates that credit unions self-report to NCUA each quarter.

Based on reporting credit unions (latest quarter, U.S.).
Source: MonitorBankRates.com analysis of NCUA Call Report data, 1994 to present. Quarterly weighted averages calculated from credit union rate filings, weighted by loan portfolio balance.

Complete State Trends Data