Auto Loan Rates
Current new-car loan rates from major banks and the automakers' captive lenders
Research brief compiled: 2026-10-11. Each statistic gives the rate, the term, and an original source. Manufacturer captive-finance offers are monthly, model-specific promotions (of the form "0% APR for 60 months on select models"), so the table shows the representative headline offer per brand and its expiration. Load-bearing figures are confirmed against current primary/authoritative sources; flagging noted inline.
1. National average new-car rate
What the average US borrower actually gets on a new car loan, by credit tier and nationwide.
| Credit score range | Avg. new-car APR | Term |
|---|---|---|
| Excellent (800+) | 7.40% | 60 mo (avg. market) |
| Very good (740–799) | 7.40% | 60 mo (avg. market) |
| Good (670–739) | 8.52% | 60 mo (avg. market) |
| Fair (580–669) | 18.37% | 60 mo (avg. market) |
| Poor (under 580) | 21.54% | 60 mo (avg. market) |
Note: the national market average for a 700 credit score buying new is 8.22% (LendingTree). Banks land near the national average; credit unions and well-qualified buyers get materially lower.
Sources: LendingTree "Best Auto Loan Rates, October 2026" — https://www.lendingtree.com/auto ; FRED, Rate on New Cars, Automotive Finance Companies (TERMCBNEWAUTONS) — https://fred.stlouisfed.org/series/termcbnewautons
2. Major bank auto loan rates (new car, well-qualified)
Representative minimum ("from") APRs for new cars at the largest US retail lenders, for borrowers with strong credit (typically 660+ / 720+ FICO). Actual offered rates vary by credit profile and term; the figures are the lenders' advertised starting points, verified October 2026.
| Lender | New-car APR (from) | Typical term |
|---|---|---|
| LightStream (SunTrust/Truist) | 4.99% | 60 mo |
| Bank of America | 4.94% – 5.64% | 60 mo |
| Truist | 5.15% | 60 mo |
| Wells Fargo | 5.33% | 60 mo |
| Ally Bank | 5.49% – 6.19% | 60 mo |
| Capital One | 5.59% (5.86% @ 72 mo) | 60 mo |
| PNC Bank | 5.69% | 60 mo |
| U.S. Bank | 5.74% – 6.29% | 60 mo |
| Chase | 5.94% – 6.49% | 60 mo |
| TD Bank / Fifth Third / Citizens / SoFi | 5.99% – 6.49% | 60 mo |
| Citibank | 6.49% | 60 mo |
Note: "from" rates are for the best-credit tier and shortest qualifying terms; a 66–84 month term typically adds ~0.3–0.9 percentage points. An existing deposit relationship sometimes unlocks a small discount.
Sources: LifeIndexData auto-rate table (verified 2026) — https://lifeindexdata.com/usa/tools/loans/auto ; Capital One auto loan disclosures — https://lendingtree.com/auto ; autoloanrate.com current new-car APRs — https://autoloanrate.com/auto-loan-rates
3. Manufacturer captive-lender offers (headline APR, Oct–Nov 2026)
The automakers' finance arms run rotating, model-specific promotions. Each figure is the representative headline offer for that brand this cycle (typically valid through 2026-11-02); offers vary by model, trim, region, and require approved credit.
| Brand | Captive lender | Headline offer | Representative models / notes |
|---|---|---|---|
| Hyundai | Hyundai Motor Finance (HMF) | 0% APR, up to 60 mo | Tucson, Santa Fe, Santa Fe Hybrid, Tucson Limited (0 payments ~90 days on several) |
| Kia | Kia Finance America | 0% APR, 60–72 mo | EV6, EV9 (60 mo); Niro EV (72 mo + $3,500); Sportage Hybrid & Sorento 0% |
| Mazda | Mazda Financial Services | 0% APR, 60 mo (selected) | CX-5, CX-70, CX-90 0% @ 60 mo; CX-50 0% @ 36 mo; CX-70/90 PHEV 0% @ 72 mo |
| Nissan | Nissan Motor Acceptance | 0% APR, 60 mo (selected) | Rogue, Pathfinder, Frontier, Murano 0% @ 60 mo (some + $500–$1,500) |
| GM (Chevy / GMC) | GM Financial | 0% APR, 60 mo (select) | Silverado 1500, Sierra 1500 0% @ 60 mo; Sierra 2.9% @ 60 mo + 92-day deferral; ~90–122-day payment deferral |
| Ford | Ford Credit | 0% APR, 36 mo (select) | Explorer 0% @ 36 mo + $1,000; F-150 1.9% @ 60 mo; Mustang ~6.8% @ 72 mo; boosts vary by model |
| Toyota | Toyota Financial Services (TFS) | 2.99% – 6.99% APR | Rarely 0% on high-demand models: 4Runner 4.99% @ 48 mo, 5.99% @ 60; Tundra 2.99% @ 72 mo + $1,000; Corolla/Camry 4.99%; bZ 1.99% @ 72 |
⚑ Caveat: these are headline promotional rates for the best-credit tier on select models, valid for a set window (often through 2026-11-02). They are not floor rates on every vehicle. Ev incentives (0% APR) are used to move slower-selling models; a popular, high-demand model (e.g. many Toyotas) frequently carries no 0% offer at all.
Sources: Hyundai USA offers — https://www.hyundaiusa.com/us/en/offers ; Carced 0% APR deals, Oct 2026 — https://www.carced.com/best/finance ; CarGurus 0% APR car deals, Oct 2026 — https://www.cargurus.com/research/articles/0-apr-car-deals ; Kelley Blue Book best 0% APR deals, Oct 2026 — https://www.kbb.com/best-cars/best-0-apr-financing-deals/ ; Toyota financing — https://www.toyota.com/deals-incentives/ ; GM Authority Sierra deals, Oct 2026 — https://gmauthority.com/blog/2026/10/gmc-sierra-discount-lease-finance-deals-for-october-2026 ; Ford finance specials
4. Credit-union comparison (lowest available)
Credit unions consistently undercut the banks for well-qualified borrowers; included because they are the benchmark a bank quote should be weighed against.
| Lender | New-car APR (from) | Term |
|---|---|---|
| Navy Federal Credit Union | 3.89% | 36 mo |
| Consumers Credit Union | 3.99% | — |
| PenFed | 4.19% – 4.79% | 36–60 mo |
| Alliant / First Tech | 4.49% | — |
Note: credit-union membership requirements vary (Navy Federal is limited to the military community and their families). Their low "from" rates apply only to the oldest/best-credit tier.
Sources: LifeIndexData auto-rate table — https://lifeindexdata.com/usa/tools/loans/auto ; autoloanrate.com — https://autoloanrate.com/auto-loan-rates
5. How to read these rates (synthesis)
- Best-credit vs. average gap is huge. A super-prime buyer can get ~4.9–6.5% from a bank or ~3.9–4.5% from a credit union, vs. ~18–21% for subprime. Your credit score is the single biggest determinant of the rate you're quoted.
- Captive 0% offers are selective, not universal. "0% for 60 months" applies to select slow-moving models, needs stellar credit, and is time-boxed to a short window. Always confirm on a written quote whether the specific vehicle qualifies.
- 0% APR vs. rebate is a choice. Captive lenders often force a trade-off between the promotional APR and factory cash-back; taking the 0% usually means giving up the cash rebate. Run both.
- Term drives the rate. 48–60 month terms price lowest; 72–84 months add ~0.3–1 point. Longer term = lower payment but more total interest.
- Pre-approval wins. Getting a bank or credit-union pre-approval before visiting a dealer gives you a rate to beat and prevents dealer-financed markups.
Source list
- LendingTree, "Best Auto Loan Rates" (Oct 2026) — https://www.lendingtree.com/auto
- FRED, Rate on New Cars, Automotive Finance Companies (TERMCBNEWAUTONS) — https://fred.stlouisfed.org/series/termcbnewautons
- LifeIndexData, Current Auto Rates 2026 — https://lifeindexdata.com/usa/tools/loans/auto
- autoloanrate.com, Current Auto Loan Rates (Sep 2026) — https://autoloanrate.com/auto-loan-rates
- Hyundai USA, Special Finance Offers — https://www.hyundaiusa.com/us/en/offers
- Carced, Best 0% APR Finance Deals (Oct 2026) — https://www.carced.com/best/finance
- CarGurus, Car Deals with 0% APR (Oct 2026) — https://www.cargurus.com/research/articles/0-apr-car-deals
- Kelley Blue Book, 10 Best 0% APR Deals (Oct 2026) — https://www.kbb.com/best-cars/best-0-apr-financing-deals/
- Toyota, Deals, Incentives & APR — https://www.toyota.com/deals-incentives/
- GM Authority, GMC Sierra Deals (Oct 2026) — https://gmauthority.com/blog/2026/10/gmc-sierra-discount-lease-finance-deals-for-october-2026
Contested / Stale Flag Summary (quick ref)
- "From" APRs undersell what most people pay. Published minimum APRs assume a 720+ FICO and specific terms; the average borrower pays materially more (8.2% new at a 700 score per LendingTree). Always ask for the rate on your exact score and term.
- Captive 0% offers are model- and region-specific and short-dated. They change monthly and often expire ~11/2/2026; treat any 0% figure as "select models, verify on a written quote," not a brand-wide rate.
- Same-lender variance across sources. Bank "from" APRs differ between aggregators by a few tenths of a point (e.g. Bank of America 4.94–5.64%). The displayed ranges capture that.
- FRED's series is quarterly, not intraday. The national-new-car rate cited is a quarterly average-of-quotes metric with a lag; it is context, not a live ticker.