Auto Loan Rates Hold Again;
Used Auto at 6.562%

Auto loan rates held steady again this week, with every segment moving less than 0.01 point. New auto loan rates edged up 0.004 points to 5.706% APR, used auto edged up 0.003 points to 6.562%, and general auto rates rose 0.009 points to 6.121%. The overall benchmark slipped fractionally to 6.219%. With new and used moving almost in step, the new-to-used spread held at 0.856 points.

📊 Three-segment auto loan coverage tracked weekly by MonitorBankRates.com.

NATIONAL: Auto financing rates held steady across the country for the week ending June 1, 2026, with all three segments moving fractionally higher. New auto loan rates edged up 0.004 points to 5.706% APR, and used auto loan rates edged up 0.003 points to 6.562%. General auto loan rates rose 0.009 points to 6.121%, the largest of the three moves but still fractional. The overall auto loan benchmark slipped 0.003 points to 6.219%, leaving the market essentially where it stood a week ago.

Used auto loan rates edged up 0.003 points to 6.562%, a fractional move that keeps the segment near the top of its recent range. The increase was drawn from 1,091 reporting institutions and 4,268 verified rate quotes. Used auto APRs have now spent several weeks just above 6.55%, holding the gains logged earlier in the spring rather than extending or reversing them. At 6.562%, used financing remains the costliest of the three auto segments by a wide margin.

New auto loan rates edged up 0.004 points to 5.706%, keeping the segment just above the 5.70% mark. New auto pricing has now held in a narrow band near 5.70% for several consecutive weeks, one of the steadiest stretches in this tracking series. For buyers with strong credit shopping new vehicles, that stability translates into a predictable rate environment, with the segment average barely moving from week to week. New auto financing remains the lowest-cost segment of the auto loan market.

General auto loan rates rose 0.009 points to 6.121%, the largest of this week’s three fractional moves. The general category aggregates institutions that do not distinguish between new and used products at the rate-quotation level, making it a useful midpoint indicator of overall auto lending conditions. The overall benchmark, a weighted average across all reporting institutions, slipped 0.003 points to 6.219%, easing fractionally even as the three named segments edged higher. All four readings moved within a 0.012-point band, consistent with a market that has settled into a holding pattern.

This week’s holding pattern leaves the auto loan market’s structure unchanged for a second straight week. The 0.856-point spread between new auto (5.706%) and used auto (6.562%) is essentially flat, still at the wide end of this tracking series and above the 0.6 to 0.8 point range that has historically separated the two segments. Because new and used rose by nearly the same fractional amount this week, the elevated spread neither widened further nor began to close. For buyers, the practical takeaway is unchanged: used vehicle financing continues to carry a meaningfully higher rate than new, and the gap that opened earlier in the spring has settled rather than corrected.

For consumers, the wide dispersion within each segment remains the most actionable feature of the auto loan market. Used auto APRs span from 2.49% to 18.00% across reporting institutions, and new auto from 2.00% to 18.00%, meaning the rate a borrower actually receives depends heavily on credit profile and on which lenders they compare. A buyer financing $25,000 on a used vehicle over 60 months at the 6.562% segment average will pay roughly $4,393 in total interest; the same loan at the new auto average of 5.706% would cost about $3,795, a difference of nearly $600 that reflects the persistent new-to-used gap. For active rate comparison, see best auto loan rates. Track how the segments evolve on the national auto loan rate trends page.