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 61–75 of 155 in Michigan · median 4.99% APR
- FinancialEdge Credit UnionAuto Loans Secured - 2023 and Newer · up to 66 months
Credit union · 2 branches
4.99%APRas low asTerms
As Low As rate based on creditworthiness.
Auto loan score 83 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Model Year: 2023 and newer. APR and terms may vary depending upon credit qualifications, age of collateral, payment protection package, and Direct Deposit of payroll, social security or retirement with AutoPay set up from a Genisys checking or savings account.
Auto loan score 83 · Carrot Score 92
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Auto & Motorcycle (2027 - 2022). 49-60 Months.
Auto loan score 83 · Carrot Score 85
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
As low as rate. Rate determined by credit history, terms, and security. Vehicle insurance required. New purchases or refinances from other financial institutions only.
Auto loan score 83 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - Michigan Educational Credit Union2026 - 2001 Automobiles (100% Financed) · up to 60 months
Credit union · 5 branches
4.99%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rate includes a 0.25% discount for direct deposit and may vary based on credit history.
Auto loan score 83 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - Michigan Schools & Government Credit UnionCar, Truck, or SUV Loan · 49–63 months
Credit union · 24 branches
4.99%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model Years: 2021 & Newer. Requires Automatic Loan Payment transfer. APR as low as.
Auto loan score 83 · Carrot Score 89
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Model year 2022-2026
Auto loan score 83
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Rate is based on credit history, age of collateral, and term of loan. Rate shown is offered to members with excellent credit; interest rate may increase based on current credit history.
Auto loan score 83 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Rates starting at 4.99% APR. Rates and terms subject to change at any time without notice. Rate based on credit score and history.
Auto loan score 83 · Carrot Score 81
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Rate as low as 4.99%* (up to 42 months). Terms available up to 90 months. Advertised rate includes 0.25% APR rate discount using 20,000 VIP Lifetime Reward Points; standard rate is 0.25% higher without reward points. Subject to credit approval. Loan discount available only on new loans to KCCU. Hybrid/Electric vehicles may receive an additional 0.25% rate reduction. Rates may vary based on term. Model years: 2 model years and newer.
Auto loan score 81 · Carrot Score 91
Rate checked · Auto loans rates on its site
Rates and branches - Community First Federal Credit Union2026 New Vehicle Loan · up to 60 months
Credit union · 5 branches
4.99%APRas low asTerms
Rates as low as
Auto loan score 80 · Carrot Score 82
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Rate applies to New 2025-2026 Vehicles. Fixed rate. Individual rates vary and are dependent on individual credit history and other factors including LTV and term.
Auto loan score 80 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model Year New 2024-2025. 0 down payment. With auto pay from your UCCU saving or checking account.
Auto loan score 80 · Carrot Score 77
Rate checked · Auto loans rates on its site
Rates and branches - Financial Plus Credit UnionVehicle Loans (2026-2021 Models) · up to 60 months
Credit union · 12 branches
4.99%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model years 2026-2021; with 1.00% Loyalty Discount (requires direct deposit of payroll and auto pay). Rates as low as stated, subject to creditworthiness. Direct Deposit/Auto Pay Cancellation Fee of $125.00 applies if requirements are not maintained.
Auto loan score 79 · Carrot Score 74
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Lowest rate available; requires direct deposit with Parda Federal Credit Union. Rate and term may vary based on credit score, year of collateral and loan-to-value.
Auto loan score 79 · Carrot Score 69
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