Current National Auto Loan Rates

• According to Bank Rate, the average interest rate on a 60-month new car loan is 6.19 percent, and the average rate on a 48-month new car loan is 6.22 percent. The average rate for a 36-month used car loan is 7.18 percent.
  
  

Better Credit Means a Lower Interest Rate

• Your credit is the most significant factor in the interest rate on your auto loan. A credit score above 680 generally gets you access to the best rates, which can be half of the rates paid by those with poor credit.
  
  

Highest and Lowest Available Auto Loan Rates

• Some auto dealers are offering zero-percent interest loans on certain models, but make sure to read the fine print as sometimes the rate increases after two or three years. Even in a low-interest rate environment, borrowers with poor credit are still paying double-digit interest rates in some parts of the country.
  
  

Credit Unions Usually Offer the Lowest Auto Loan Interest Rates

• In turns out that credit unions are usually the best place to get an auto loan. According to Cars.com, credit unions offered an average used car loan rate almost 1.5 percent lower than banks in 2009.