Get current car loan rates and choose the loan that’s right for you
Auto loan rates change frequently, so it’s important to keep an eye on them. Your loan interest rate affects the amount you pay each month. Lower interest rates can mean thousands of dollars in savings. Our price list will help you determine the best time to buy a new or used car.
| Dates | 60-month new car | 48-month new car | 36-month used car |
|---|---|---|---|
| 4/27/2022 | 4.47% | 4.44% | 4.73% |
| 4/20/2022 | 4.38% | 4.34% | 4.63% |
| 4/13/2022 | 4.22% | 4.18% | 4.48% |
| 4/6/2022 | 4.21% | 4.17% | 4.47% |
| 3/30/2022 | 4.12% | 4.12% | 4.52% |
| 3/23/2022 | 4.08% | 4.08% | 4.48% |
| 3/16/2022 | 4.00% | 4.02% | 4.44% |
| 3/9/2022 | 3.98% | 4.00% | 4.41% |
| 3/2/2022 | 3.97% | 3.99% | 4.40% |
| 2/23/2022 | 3.99% | 4.00% | 4.42% |
| 2/16/2022 | 3.97% | 3.98% | 4.41% |
| 2/9/2022 | 3.95% | 3.96% | 4.38% |
| 2/2/2022 | 3.96% | 3.97% | 4.41% |
What is the best credit rating for a low-interest loan?
A credit score of 740 or higher—considered excellent credit—helps you qualify for the lowest auto loan rates. But even if you have a low credit score, you still qualify for a decent interest rate.
How to get the best interest rate on a car loan?
Borrowers with lower credit ratings may see higher car rates. If your credit score is on the low end – 580 or lower – some lenders may offer higher rates or longer loan terms, which can be a risk. Taking steps to improve your credit score can go a long way towards getting better interest rates.
What is the difference between interest rates on new and used cars?
Interest rates on new car loans are generally lower than on used car loans. Lenders see new cars as less risky — they’re less likely to fail, and lenders can see exactly how much value they’ll lose over time. New cars also have more predictable resale values than older cars, and that predictability translates into lower interest rates.
What other important car ownership costs need to be considered?
In addition to the cost of making monthly car loan payments, vehicle ownership costs also increase. One of the most important is car insurance. Make sure you understand car insurance rates and the best car insurance companies so you can choose the one that best suits your needs.
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