Brian McKay
Brian McKay
Co-Founder & Lead Data Architect- Automated Online Rate Data Aggregation
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Used Auto Loan Rates Rise to 6.751% for a Fifth Straight Report
Used auto loan rates rose 0.013 points to 6.751%, a fifth straight increase, and new auto loan rates held steady at 5.929%. General auto loan rates rose 0.044 points to 6.493%. Every auto loan is fixed once signed.
Used auto loan rates rose 0.013 points to 6.751% APR, a fifth straight increase, while new auto loan rates held steady at 5.929%. Rates on general auto loans, products lenders list without a new or used designation, rose 0.044 points to 6.493%.
In a MonitorBankRates reader survey taken September 16 to 23, 36 of the 69 readers asked on our lending pages (52%) said they would hold off on borrowing; the margin of error is 11.8 points. The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16.
Key takeaways
- Used auto loan rates rose 0.013 points to 6.751% APR, a fifth straight increase, and new auto loan rates held steady at 5.929%.
- Rates on general auto loans rose 0.044 points to 6.493%.
- The Federal Reserve raised its benchmark rate a quarter point to 3.75% to 4.00% on September 16 by a 12-0 vote, its first increase since 2023; these figures were collected September 24, eight days after the announcement.
- 36 of the 69 readers asked on our lending pages in the September 16 to 23 survey (52%) said they would hold off on borrowing.
- On a $25,000 loan over 60 months, financing at the used-car average runs about $492.10 a month and at the new-car average about $482.50 a month.
Used auto loan rates rose for a fifth straight report
Auto loan rates by category, national average APR since late March
Average APRs from MonitorBankRates.com's nightly collection, the same series this report's figures come from, updated daily.
Used auto loan rates have now risen five reports in a row, from 6.503% in late August to 6.751% in this report, a climb of 0.248 points over that stretch. New auto loan rates were 5.877% on September 16, 5.931% on September 23 and 5.929% this week.
Rates on general auto loans, products lenders list without naming new or used, rose 0.044 points to 6.493%, after 6.449% on September 23.
Monthly payment on a $25,000 auto loan at the averages
Financing $25,000 over 60 months at this week's used-car average of 6.751% works out to about $492.10 a month, with roughly $4,526 in total interest. At the new-car average of 5.929%, the same loan runs about $482.50 a month, with roughly $3,950 in total interest.
Change since September 23, by loan category (percentage points)
This report's averages, September 23 to September 30. Red bars rose; green bars fell.
Auto loan rates this week: September 23 vs. September 30
| Loan Category | September 23 APR | September 30 APR | Weekly Change |
|---|---|---|---|
| Used Auto Loans ▲Financing for used vehicles | 6.738% | 6.751% | ▲ +0.013 |
| Auto Loans, General ▲Products listed without a new or used designation | 6.449% | 6.493% | ▲ +0.044 |
| New Auto Loans ▼Financing for new vehicles | 5.931% | 5.929% | ▼ -0.002 |
| 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 September 23 to September 30, 2026. The general category reflects loans lenders list without a new or used designation. Source: MonitorBankRates.com. | |||
Auto loan rates are fixed once the loan is signed
The Federal Reserve raised its benchmark rate to 3.75% to 4.00% on Wednesday, September 16, its first increase since 2023, by a 12 to 0 vote. Every auto loan in this report carries a fixed rate, so rates on loans already signed do not change with it; offers on loans not yet signed can change when lenders reprice. The figures in this report were collected September 24, eight days after the announcement.
Car insurance is part of the monthly cost of a financed car
Lenders require full coverage on a financed car until it is paid off, so the insurance premium is part of the same monthly bill as the loan payment. Our car insurance rates page covers what drivers pay nationally, and the MBR Auto Insurance Burden Index ranks all 50 states by how heavily those premiums weigh on drivers.
What the national auto loan averages include
Each average combines every credit tier and vehicle age; the strongest current offers are on our best auto loan rates page. The savings goal calculator calculates the monthly deposit needed to reach a down payment goal, and the budget calculator shows where a car payment fits among monthly income and expenses; both use rate data computed daily from more than 8,000 banks and credit unions. Buyers comparing local lenders can line up Texas auto loan rates against these national averages, and week-by-week movement is on our auto loan rate history page.
Auto loan averages on September 30
Used auto loans average 6.751%, new auto loans 5.929% and general auto loans 6.493%. Every auto loan is fixed once signed. 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 September 30, 2026, these averages were calculated from 18,611 individual rates verified at 2,785 banks and credit unions; the latest collection ran September 24, 2026. The table below shows how many lenders reported rates in each category.
| Loan Category | Institutions | Rates Verified |
|---|---|---|
| New Auto Loans | 1,290 | 4,423 |
| Used Auto Loans | 1,401 | 6,397 |
| Auto Loans, General | 1,045 | 4,961 |
| Total (distinct institutions) | 2,785 | 18,611 |
Category counts overlap because most lenders quote both new and used loans; the total row counts each institution once across the full auto loan universe.
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.
