Auto Loan Rates

Calculate your auto loan rate!

A recent survey of U.S. auto loan rates revealed that rates for people with FICO scores of 590 or below were twice as high as those for people with 720 and above FICO scores. But, there's more to your auto loan rate than your FICO score.

Use our auto loan calculator below to estimate your rate based on five separate factors!

A bit more about auto loan interest rates:

• The state of the economy. Auto loan rates go up and down with the economic cycle and the rate of inflation. Borrowing at the bottom of the cycle may mean a savings of several percentage points or 20-30% overall.

• The type of auto loan. New auto loan rates may carry a 20-25% lower interest rate than used auto loan rates from the same dealer. 36-month new car auto loan rates for one national lender ran around 6.0%. Its 36-month used car loan rate was about 20% higher at 7.3%.

• The car seller. Car loan rates vary based on who the seller is. A recent survey of used car loan rates for people with good credit showed that purchases from an licensed dealer were 7.3%. Buying the same car from a private party would incur a used car loan rate of 8.25%, a 13% increase.

• The loan term. Except in very rare instances, auto loan interest rates increase with the length of the loan. Recent 3-year loan rates were 12% lower than 6-year loan rates.

• The local market. While some sites give the impression that it is essential to check rates in your local area, auto loan rates fluctuate less than 10% across the continental U.S.

So, if you have great credit and want a 3-year auto loan to buy a new car from a dealer, you’re going to get a low rate. If you have poor credit and are taking out a 60-month loan to buy a used car from a private party, you may find it difficult to get car financing. Either way, SmartCarCredit has you covered. Get great car financing rates today. Start by filling out our easy auto loan application form.

Related Links

• Want more information? Read more about auto loans.

• Concerned about your credit? Read about bad credit car loans.

• Want to know the language? Learn important auto-loan-terms.

• Ready to get started? Get auto loan quotes.

Disclosure: We developed the content for SmartCarCredit™ while working with automotive industry clients. We hope you find it helpful in making informed decisions. While we believe the information to be accurate, we do not guarantee its accuracy.