What are current auto loan rates for used vehicles in January 2026?
Used car loan rates start at 4.79% APR in January 2026. Top lenders offer rates from 4.79% to 6.01% for 60-72 month terms. You see rates of 6.79% or higher for terms up to 84 months. Lenders charge more for used cars. They carry higher risk than new cars.
Your exact rate depends on your credit score, loan term, and lender. Borrowers with scores over 720 score the lowest rates. For a 2024 Hyundai IONIQ 6 in ZIP 10281, strong credit lands you near the low end.
Here are top used car loan rates as of January 29, 2026:
| Lender | Term | Starting APR |
|---|---|---|
| PenFed | Any | 4.79% |
| DCU | Any | 4.99% |
| Capital One | 60 months | 5.62% |
| Capital One | 72 months | 6.01% |
| Chevron FCU | 12-60 months | 5.89% |
| Chevron FCU | 61-72 months | 5.94% |
| Chevron FCU | 73-84 months | 6.79% |
| Bank of America | Dealer used | 5.54% |
Shorter terms bring lower rates. A 60-month loan saves you interest compared to an 84-month loan. Electric vehicles like the IONIQ 6 often qualify for perks. DCU cuts 0.25% off for EVs.
Tips to Get the Best Rate
- Check your credit score first. Scores above 720 unlock rates under 5%.
- Get preapproved. Compare rates from several lenders before you hit the dealership. This locks your rate and blocks dealer add-ons.
- Choose a short term. Go for 60 months over 72 to cut interest costs.
- Join a credit union. PenFed and Chevron FCU deliver low rates. You join in minutes.
- Buy a recent used car. Models like the 2024 IONIQ 6 count as low-risk.
Use online payment calculators to compare. For a $20,000 loan at 5.5% over 60 months, you pay $377 per month.
Sidekick calculates full ownership costs for your 2024 Hyundai IONIQ 6 in ZIP 10281. It factors in loan payments, insurance, fuel, and maintenance.
Rates shift daily. Call lenders for your personal quote. Lock in a good deal now.