Average auto loan rates
New-car loan, 60 months
7.14%
New-car loan, 48 months
7.47%
Source: Federal Reserve G.19 Consumer Credit, finance rates at commercial banks (FRED RIFLPBCIANM60NM, TERMCBAUTO48NS). Averages, not offers.
By credit score
| Tier | Score | New car | Used car |
|---|---|---|---|
| Super prime | 781–850 | 4.41% | 6.29% |
| Prime | 661–780 | 6.23% | not reported |
| Near prime | 601–660 | 9.67% | not reported |
| Subprime | 501–600 | 13.44% | not reported |
| Deep subprime | 300–500 | 16.11% | 21.62% |
| All tiers | 6.35% | 11.19% |
Bank rates over time
| Survey | 60-month | 48-month |
|---|---|---|
| May 2026 | 7.14% | 7.47% |
| February 2026 | 7.52% | — |
| November 2025 | 7.22% | — |
| August 2025 | 7.64% | — |
Payments at the 60-month bank average
- $20,000 car loan: $397.35 a month over 60 months, $342.33 over 72.
- $30,000 car loan: $596.02 a month over 60 months, $513.49 over 72.
- $40,000 car loan: $794.69 a month over 60 months, $684.65 over 72.
Questions
What is the average car loan rate right now?
Commercial banks charged an average 7.14% on 60-month new-car loans in the Federal Reserve's May 2026 survey. Experian's Q2 2026 figures put the average across all lenders at 6.35% for new cars and 11.19% for used.
Why are the two averages different?
The Fed series is the most common rate at a panel of commercial banks; Experian averages every auto loan originated, including captive lenders' promotional rates and credit unions.
How much does credit score change the rate?
In Experian's Q2 2026 data, new-car rates ran from 4.41% for super-prime borrowers to 16.11% for deep subprime.
How often is this updated?
The Fed publishes these rates quarterly in its G.19 release; Experian publishes its tiers quarterly. This page updates when either does.
Sources
- New-car loan, 60 months average: 7.14%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series RIFLPBCIANM60NM, as of May 1, 2026; retrieved September 26, 2026.
- New-car loan, 48 months average: 7.47%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series TERMCBAUTO48NS, as of May 1, 2026; retrieved September 26, 2026.
- Average auto loan APR by credit tier. Experian State of the Automotive Finance Market, Q2 2026; retrieved September 26, 2026.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.