Compare Bank & Credit Union Rates
Best auto loan rates in Michigan
Compare the lowest advertised APRs for new and used vehicle loans from banks and credit unions, with terms, conditions and original sources.
Top new-car loan rates
Showing 136–150 of 155 in Michigan · median 4.99% APR
- 6.24%APRas low as
Terms
Based on 60 months and $45,000 financing amount with $0 down payment for online applicants with excellent credit. Rate discount of 0.25% may be available for Chase customers maintaining an average daily combined balance of $150,000 or more across eligible accounts.
Auto loan score 64 · Carrot Score 60
Rate checked · Auto loans rates on its site
Rates and branches - 6.24%APRas low as · up to 16.49%with conditions
6.24% APR, up to 16.49%
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Lowest rate includes automatic payment and electronic document discount.
Auto loan score 63 · Carrot Score 83
Rate checked · Auto loans rates on its site
Rates and branches - 6.26%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Interest as low as 5.99%. Rate based on automatic withdrawal of payment from ChoiceOne account. APR based on $20,000 loan with 84 monthly payments of $294.63.
Auto loan score 64
Rate checked · Auto loans rates on its site
Rates and branches - 6.32%APRas low as
Auto loan score 64 · Carrot Score 73
Rate checked · Auto loans rates on its site
Rates and branches - 6.40%APRas low as
Terms
Rates shown reflect lowest APR available and may not be available for all loan terms; longer repayment terms may result in higher APRs. Rate depends on credit qualifications, collateral, term selected, and other factors. 90-day payment deferral available subject to credit approval for applicants with credit score of 690+ and vehicle collateral model year 2018 or newer; interest accrues from disbursement date.
Auto loan score 64 · Carrot Score 73
Rate checked · Auto loans rates on its site
Rates and branches - 6.49%APRas low as
Terms
Longer terms may be available for highly qualified borrowers with adequate collateral.
Auto loan score 63 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 6.49%APRas low as
Terms
6.49% APR is based on 60-month term, 2022 or newer vehicle, with a minimum credit score of 740. Subject to credit approval; rates subject to change.
Auto loan score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.60%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
For 2024 & Newer model years. Stated APR is based on a credit score of 720+ and requires automatic payment from a Highpoint Community Bank account (otherwise 0.50% is added).
Auto loan score 63 · Carrot Score 75
Rate checked · Auto loans rates on its site
Rates and branches - 6.60%APRas low as
Terms
Rate is as low as 6.60% APR for terms up to 84 months. Monthly payment is $221.22 assuming a $15,000 loan amount. Based on 730+ credit score. Rate may be reduced by 0.25% with automatic payment from an Eaton Community Bank checking or savings account setup at closing. Processing fee is $149.
Auto loan score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.62%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rate includes discount for auto pay through Independent Bank checking or savings account (6.49% interest rate / 6.62% APR). Available for credit score 750 or greater, automobiles 2023 and newer, and loan amounts greater than $1,000. Standard processing fee of $175.00 applies.
Auto loan score 62 · Carrot Score 62
Rate checked · Auto loans rates on its site
Rates and branches - 6.63%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model years 2022 – 2026. Credit score 720 or greater. Includes 0.25% autopay discount for loan payments made automatically from a Bank of Ann Arbor checking or savings account.
Auto loan score 62 · Carrot Score 80
Rate checked · Auto loans rates on its site
Rates and branches - 6.64%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model Year: 2025 or Newer. Annual Percentage Rate with Automatic Payment. Varies on term with rates as low as 6.64%. Lowest APR assumes excellent credit history, automatic loan payment from a FSB account, 10% down payment on a new car financed for 60 months.
Auto loan score 63 · Carrot Score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.67%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
2026 model year. 10% down required.
Auto loan score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.69%APRas low as
Terms
New (2025 & Newer). Monthly payment estimate per $10,000 borrowed $197.06.
Auto loan score 62 · Carrot Score 89
Rate checked · Auto loans rates on its site
Rates and branches - 6.74%APRas low as
Terms
2017 to 2019 (Auto only).
Auto loan score 62 · Carrot Score 71
Rate checked · Auto loans rates on its site
Rates and branches
Each institution’s lowest advertised APR for the vehicle, at terms that reach 60 months: usually its best-credit rate, so yours depends on your credit, the term and the vehicle. A rate that needs autopay, a checking account or similar says “with conditions”; More filters can leave those out. Refinance, lease buyout, recreational and promotional rates that have ended are left out, and a rate far below what other lenders advertise is listed lower down until it’s checked. Carrot Score rates each institution on all its CD, savings, auto loan and credit card rates. How we rank
What new auto loans cost in Michigan
155 banks and credit unions · checked Oct 16–22
- Typical
- 4.99%
- Top 10% up to
- 4.27%
- Banks, typical
- 6.54%
- Credit unions, typical
- 4.99%
How does your bank’s rate compare?
Find your bank or credit union to see all its rates and how they compare near you.
Michigan
Top Carrot institutions
Ranked across their CDs, savings, auto loans and credit cards. How scores work
- Settlers Federal Credit UnionCredit union · 2 branches
- Chief Financial Credit UnionCredit union · 4 branches
- Meijer Credit UnionCredit union · 3 branches