Auto Loan Rates Fall for a Second Week;
General Auto Leads Declines Again at −0.138 pts
Week Ending April 13, 2026

All three auto loan categories declined for the second consecutive week. General auto loans led declines again at −0.138 points to 6.168% APR, used auto fell −0.056 points to 6.581%, and new auto dipped −0.022 points to 5.808% — its lowest level in recent weeks.

📊 Full week-over-week data for all 3 auto loan categories — drawn from 16,170 verified auto loan rate quotes from 2,754 institutions across all 50 states.

NATIONAL — Auto loan rates declined across all three tracked categories for the second consecutive week ending April 13, 2026, with the overall national average falling to 6.270% APR — down 0.080 points from last week’s 6.350%. The data is drawn from 16,170 verified rate quotes from 2,754 banks and credit unions across all 50 states. General auto loans posted the steepest single-category decline for the second straight week, dropping 0.138 points to 6.168% APR — a two-week cumulative decline of 0.253 points from the 6.421% recorded on April 7.

New auto loans average 5.808% APR nationally, down 0.022 points from last week’s 5.830%. New vehicle financing consistently carries the lowest rates among the three categories due to predictable valuations, manufacturer warranty coverage, and slower initial depreciation, all of which reduce lender collateral risk. The new-to-used spread narrowed slightly to 0.773 percentage points from last week’s 0.807 as used auto rates fell faster than new.

Used auto loans average 6.581% APR, down 0.056 points from 6.637%. The 0.773-point premium over new auto reflects the higher collateral risk on older, faster-depreciating vehicles, as well as the broader credit profile of used vehicle borrowers. General auto loans — products not specifically categorized as new or used, including many refinance products — average 6.168% APR, down 0.138 points from 6.306%. This category’s outsized and persistent declines suggest continued competitive repricing among institutions in the refinance and general vehicle loan market. Borrowers who financed at 2023–2024 peak rates may find meaningful savings by shopping refinance options at current levels. Compare the best auto loan rates from banks and credit unions nationwide →

The second consecutive week of declines across all three auto loan categories mirrors the broader pattern in credit markets following the tariff-related volatility of early April 2026. As Treasury yields fell in response to flight-to-safety flows, the cost of funds for banks and credit unions eased, and auto loan pricing followed. General auto loans — which include a higher proportion of refinance products than new or used categories — are showing the largest response, consistent with the refinance market’s sensitivity to rate direction. When rates fall, refinance demand typically picks up and institutions compete more aggressively on rate.

For borrowers, the two-week cumulative declines are meaningful in practical terms. New auto at 5.808% is down 0.022 points from last week, and general auto at 6.168% has shed 0.253 points in two weeks. On a $30,000 loan over 60 months, the difference between 6.421% (two weeks ago) and 6.168% (this week) represents approximately $3.80 in monthly payment savings and roughly $228 over the life of the loan — modest individually, but compounding incentive to shop current lender offerings before committing. Credit unions in particular continue to offer competitive alternatives to bank financing, especially for borrowers with strong credit profiles. Compare auto loan rates from banks and credit unions →