New Auto Loan Drops to 5.775%;
General Auto Reverses Higher After Two Weeks of Declines
Week Ending April 20, 2026

Auto loan rates were mixed this week after two weeks of broad declines. New auto loans fell 0.033 points to 5.775% APR — the week’s largest drop — while general auto reversed direction, rising 0.025 points to 6.193%. Used auto held nearly flat.

📊 Full week-over-week data for all 3 auto loan categories — drawn from 13,899 verified auto loan rate quotes from 2,565 institutions across all 50 states.

NATIONAL — Auto loan rates were mixed for the week ending April 20, 2026, ending two consecutive weeks of broad declines across all three tracked categories. The overall national average held nearly steady at 6.268% APR, down just 0.002 points from last week’s 6.270%. The data is drawn from 13,899 verified rate quotes from 2,565 banks and credit unions across all 50 states. New auto loans led this week’s declines, falling 0.033 points to 5.775% APR — a new low in recent weeks. General auto loans reversed course after two weeks as the steepest decliner, rising 0.025 points to 6.193%, while used auto held nearly flat at 6.575%.

New auto loans average 5.775% APR nationally, down 0.033 points from last week’s 5.808% and the largest decline among the three categories this week. New vehicle financing continues to carry the lowest rates among the categories tracked, reflecting predictable collateral valuations and reduced lender risk. The new-to-used spread widened slightly to 0.800 percentage points from last week’s 0.773 as new auto fell faster than used. For buyers entering the market, new auto financing at 5.775% represents a continued easing from the early April peak.

Used auto loans average 6.575% APR, down just 0.006 points from 6.581% — effectively flat. After last week’s 0.056 point decline, used auto appears to be stabilizing. The 0.800-point premium over new auto reflects the higher collateral risk on older vehicles and the broader credit profile of used-car borrowers. General auto loans — which include refinance products and non-specific vehicle loans — rose 0.025 points to 6.193%, ending two consecutive weeks as the category with the steepest declines. This reversal is notable: general auto had shed 0.253 points over the prior two weeks, and this week’s modest bounce may reflect some of that aggressive repricing being pulled back or institutional limits being reached. The three-week cumulative decline on general auto stands at 0.228 points, still the largest sustained move across categories.

For borrowers, the mixed signals this week suggest the broad decline of the past two weeks may be pausing or leveling off. New auto at 5.775% remains the lowest rate category and a continued bright spot for purchase buyers. Refinance shoppers focused on general auto loan products should note that the two-week window of falling rates has ended — if the reversal continues, the window for locking in the lower rates may be narrowing. Credit unions continue to offer competitive alternatives to bank financing across all categories. Compare the best auto loan rates from banks and credit unions nationwide →

This week’s mixed movement in auto loan rates follows two weeks of broad declines driven by the tariff-related Treasury yield volatility of early April 2026. The general auto category’s reversal — after leading declines in each of the prior two weeks — is worth watching. General auto loans include a higher proportion of refinance products than new or used categories, and refinance pricing tends to respond most quickly to both directions of rate movement. If general auto continues higher next week, it could signal that institutions have absorbed the rate declines they were willing to pass through and are now repricing upward.

The decoupling between new auto (down 0.033) and general auto (up 0.025) this week is notable. In a uniformly easing environment, all three categories typically move in the same direction. The split suggests institutions are making category-specific pricing decisions rather than responding to a single broad rate signal. New auto’s continued decline, meanwhile, remains supportive for purchase buyers — 5.775% is the lowest new auto average in recent weeks. For borrowers considering refinance, the general auto category’s three-week cumulative decline of 0.228 points remains meaningful, though this week’s reversal is a reminder that the window can close. Compare auto loan rates from banks and credit unions →