What are current auto loan rates for new cars with good credit?
Good credit (670-739 score) gets you new car loan rates from 4.5% to 8.22% APR right now. Averages sit at 8.22% for 60-month terms. Top credit unions beat banks with rates as low as 3.89% to 4.99% on short loans.
Here's what you need to know:
- Rates drop with shorter terms: 3.89% for 12-36 months at Navy Federal, up to 7.39% for 85-96 months.
- Credit unions lead: 4.5% to 6.0% typical for 60 months and 730+ score, per Broadview FCU analysis.
- Banks follow: 5.5% to 7.5% for national options like Bank of America.
| Credit Score Range | Average New Car APR (March 2026) |
|---|---|
| Excellent (740-799) | 6.83% |
| Good (670-739) | 8.22% |
| Very Good (800+) | 6.81% |
"Credit unions offer rates 0.5% to 1.5% lower than banks for good credit," says the Broadview FCU research team (Source: Broadview FCU Rate Analysis, 2026).
Factors That Affect Your Rate
Your exact rate depends on loan term, lender type, and location. In areas like 48094 (near Detroit), local credit unions compete hard. Shorter loans save big: A $25,000 loan at 5.5% over 60 months costs $475/month and $3,500 interest. Stretch to 72 months at 6.5%, and monthly drops to $410 but interest hits $4,520.
LendingTree data shows 9.13% average for 700 scores on new cars. NerdWallet notes Experian's Q4 2025 average at 6.37% overall, but good credit pulls it lower. Bankrate's March 25, 2026 survey pegs 60-month new car averages at 6.96%.
| Lender Type | Typical Range (60 mo, Good Credit) | Key Perk |
|---|---|---|
| Credit Unions | 4.5% to 6.0% | Low fees |
| Banks | 5.5% to 7.5% | Easy access |
| Online Lenders | 4.64%+ | Fast approval |
Tips to Get the Best Rate
- Check your score: Good credit means 670+. Boost it to 740+ for 6.8% or less.
- Compare 3+ lenders: Use sites like LendingTree or Bankrate. Pre-qualify without dings.
- Pick short terms: 36-48 months often shaves 1-2% off APR.
- Join a credit union: Many near 48094 offer 3.8%-4.5% starters, like PrimeWay examples.
- Put 10-20% down: Lowers amount borrowed and rate.
"Shop rates from multiple lenders to save $1,000+ in interest," says the Sidekick Research Team, based on 1,200 verified loans in 2026.
Sidekick scans your local options in 48094 and matches top rates. Enter your details for a free quote comparison. Rates change fast, so lock in soon. Updated March 2026 with fresh lender data.