Auto Loan Rates Split;
New and Used Ease

Auto loan rates went two ways this week. New auto eased 0.041 points to 5.649% APR and used auto fell 0.048 points to 6.492%, the borrower-friendly direction, while general auto rose 0.046 points to 6.117% and the overall benchmark ticked up 0.009 points to 6.212%. After last week’s uniform easing, this was a mixed read: the two segments most buyers shop slipped, the aggregate edged higher, and the wide new-to-used gap held.

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

NATIONAL: Auto loan rates were mixed for the week ending June 15, 2026, after a week in which everything had moved lower together. New auto loan rates eased 0.041 points to 5.649% APR, and used auto loan rates fell 0.048 points to 6.492%, the two largest moves and both in the borrower’s favor. Running the other way, general auto rates rose 0.046 points to 6.117%, and the overall benchmark ticked up 0.009 points to 6.212%. The moves were fractional, and the wide gap between new and used financing held.

New auto loan rates eased 0.041 points to 5.649%, slipping below the 5.70% mark the segment had hovered around for weeks. New auto remains the lowest-cost corner of the market and the steadiest, and this week’s dip is its largest in a while, though still a fraction of a point. The read drew on 859 reporting institutions and 2,527 verified quotes. For buyers with strong credit shopping new vehicles, the rate environment stayed favorable and edged a touch lower.

Used auto loan rates fell 0.048 points to 6.492%, the week’s largest move, dropping back below the 6.50% line. Used financing is still the costliest of the three segments by a wide margin, and at 6.492% it sits 0.843 points above new auto, a gap that narrowed slightly from 0.850 as used eased a touch more than new. The used segment drew on 925 institutions and 3,683 quotes.

General auto rates went the other way, rising 0.046 points to 6.117%, and the overall benchmark ticked up 0.009 points to 6.212%. The general category aggregates lenders that do not split their quotes between new and used, so it reads as a midpoint on conditions, and this week it leaned higher even as the two named segments eased. With the segments moving in opposite directions by similar fractions, the blended benchmark barely budged.

A two-sided week leaves the auto market’s structure unchanged. The 0.843-point gap between new auto at 5.649% and used auto at 6.492% is still near the wide end of this series and well above the 0.6-to-0.8-point range that historically separated the two. Both eased this week, so the spread tightened only slightly. For buyers, the takeaway holds: used vehicle financing still carries a meaningfully higher rate than new, and the gap that opened in the spring has settled rather than closed.

Auto rates do not track any single benchmark the way mortgages follow the 10-year Treasury. They are built mostly from each lender’s cost of funds and the credit risk of the borrower, which is why they move slowly and sit well above the Fed’s policy rate. With the Federal Reserve holding its benchmark at 3.50% to 3.75% since December, and expected to hold again at its meeting this week on June 16-17, there is little pushing auto APRs in either direction, so the elevated level set during the spring has simply persisted. This week’s mixed, fractional moves are drift within that range, not a break from it.

For consumers, the rate on the screen matters far less than the rate you personally qualify for. Used auto APRs run from 2.49% to 18.00% across reporting lenders, and new auto from 2.00% to 18.00%, so credit profile and lender choice swing the outcome far more than a fractional weekly move. A buyer financing $25,000 on a used vehicle over 60 months at the 6.492% average would pay roughly $4,345 in total interest; the same loan at the new auto average of 5.649% runs about $3,755, a difference of nearly $590 that tracks the new-to-used gap. Comparing offers is where the real savings sit; see best auto loan rates, compare what lenders quote on Florida auto loan rates, and follow the segments on the national auto loan rate trends page.