Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Average Used Auto Loan Rate Rises to 6.741% While New Auto Loan Rate Falls to 5.984%
Used auto loan rates rose 0.019 percentage points to 6.741% APR between October 29 and November 4, while new auto loan rates fell 0.013 percentage points to 5.984%. Other auto loan rates fell 0.013 percentage points to 6.522%. Every auto loan is fixed once signed.
Used auto loan rates rose 0.019 percentage points to 6.741% APR between October 29 and November 4, while new auto loan rates fell 0.013 percentage points to 5.984%. Rates on other auto loans, products lenders list without a new or used designation, fell 0.013 percentage points to 6.522%.
Key takeaways
- Used auto loan rates rose 0.019 percentage points to 6.741% APR, from 6.722% on October 29, on 1,481 institutions and 7,163 rates.
- New auto loan rates fell 0.013 percentage points to 5.984%, from 5.997%; other auto loan rates fell 0.013 percentage points to 6.522%, from 6.535%.
- The Federal Reserve held its target range at 3.75% to 4.00% on October 28; every auto loan is fixed once signed.
- On a $35,000 loan over 72 months, financing at the used-car average runs about $592.37 a month and at the new-car average about $579.79 a month.
Used auto loan rates rose 0.019 percentage points to 6.741%
Auto loan rates by category, national average APR since April 13
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Used auto loan rates averaged 6.764% on September 30, 6.738% on October 14, 6.660% on October 22, 6.722% on October 29 and 6.741% on November 4, from 1,481 institutions and 7,163 rates. New auto loan rates averaged 5.933%, 5.984%, 5.930%, 5.997% and 5.984% on the same dates, from 1,285 institutions and 4,847 rates.
Other auto loan rates fell 0.013 percentage points to 6.522%
Rates on other auto loans averaged 6.512% on September 30, 6.407% on October 14, 6.526% on October 22, 6.535% on October 29 and 6.522% on November 4, from 1,216 institutions and 6,734 rates. This category holds products lenders list without a new or used designation.
Change since October 29, by loan category (percentage points)
This report's averages, October 29 to November 4. Red bars rose; green bars fell.
Auto loan APRs by category, October 29 and November 4
| Loan Category | October 29 APR | November 4 APR | Change Since October 29 |
|---|---|---|---|
| Used Auto Loans ▲Financing for used vehicles | 6.722% | 6.741% | ▲ +0.019 |
| Other Auto Loans ▼Products listed without a new or used designation | 6.535% | 6.522% | ▼ -0.013 |
| New Auto Loans ▼Financing for new vehicles | 5.997% | 5.984% | ▼ -0.013 |
| Compare live offers: new car financing rates · used car financing rates · all auto loan rates | |||
| All APRs are national averages of what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates. This comparison runs October 29 to November 4, 2026. The other auto loans category reflects loans lenders list without a new or used designation. Source: MonitorBankRates.com. | |||
Auto loan averages compared with October 4
New auto loan rates averaged 5.970% on October 4 and 5.984% on November 4, a difference of 0.014 percentage points. Used auto loan rates went from 6.782% to 6.741%, a difference of 0.041 percentage points, and other auto loan rates from 6.486% to 6.522%, a difference of 0.036 percentage points. The Federal Reserve held its benchmark range at 3.75% to 4.00% on October 28. Every auto loan carries a fixed rate, so loans already signed keep theirs; offers on loans not yet signed can change when lenders reprice.
Payments on a $35,000, 72-month auto loan at the November 4 averages
Financing $35,000 over 72 months at the used-car average of 6.741% works out to about $592.37 a month, with roughly $7,651 in total interest. At the new-car average of 5.984%, the same loan runs about $579.79 a month, with roughly $6,745 in total interest. At the October 29 averages, the same loan ran about $592.05 a month at the used-car average and $580.00 at the new-car average.
Checking a lender's offer against the November 4 averages
Each average combines every credit tier and vehicle age; the strongest current offers are on our best auto loan rates page. The auto loan calculator works out the monthly payment for a loan amount, term and rate, and the budget calculator sets monthly income against expenses; both start from today's average rates, computed daily from more than 8,000 banks and credit unions, and state figures can be loaded. Buyers comparing local lenders can line up Texas auto loan rates against these national averages, and movement over time is on our auto loan rate history page. A financed car also carries an insurance payment; our car insurance rates page shows what drivers pay nationally.
Auto loan averages on November 4
Used auto loans average 6.741%, other auto loans 6.522% and new auto loans 5.984%. The rate an individual buyer is offered depends on credit profile, lender, and vehicle age, and offers vary between lenders at every tier.
Data Coverage & Methodology
All APRs in this report are calculated from rates collected directly from institution websites by MonitorBankRates.com's proprietary systems, tracking what real licensed lenders are actually quoting to borrowers, not promotional teaser rates or rate aggregator estimates.
As of November 4, 2026, these averages were calculated from 18,744 individual rates verified across the three categories; the latest collection ran November 3, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| New Auto Loans | 1,285 | 4,847 |
| Used Auto Loans | 1,481 | 7,163 |
| Other Auto Loans | 1,216 | 6,734 |
| Total | 18,744 |
Category counts overlap because most lenders quote both new and used loans.
This report is for general information and is not financial advice. The APR any borrower receives depends on credit profile, loan term, vehicle age, and lender; confirm current offers with lenders before making decisions.
