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 121–135 of 155 in Michigan · median 4.99% APR
- 5.64%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Premier APR; As low as
Auto loan score 66 · Carrot Score 73
Rate checked · Auto loans rates on its site
Rates and branches - Community Choice Credit UnionAuto Loans For new and used cars · 49–60 months
Credit union · 23 branches
5.74%APRas low asTerms
Minimum loan amount $10,000+. 60 monthly payments of $19.22 per $1,000 borrowed.
Auto loan score 69 · Carrot Score 78
Rate checked · Auto loans rates on its site
Rates and branches - 5.74%APRas low as
Terms
Vehicle model years 2022 - 2026.
Auto loan score 69 · Carrot Score 93
Rate checked · Auto loans rates on its site
Rates and branches - 5.74%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rates shown are for well qualified borrowers. Actual rates may vary based on credit history, loan purpose, amount, loan-to-value, term, and vehicle year. Includes a 0.25% discount for borrowers who set up Auto Pay at loan closing and finance a 2019 or newer vehicle with a term of 66 months or less. Auto pay is optional.
Auto loan score 66 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 5.75%APRas low as
Auto loan score 68 · Carrot Score 64
Rate checked · Auto loans rates on its site
Rates and branches - 5.75%APRas low as · up to 18.75%
5.75% APR, up to 18.75%
Terms
60 Months; minimum APR requires Silver credit tier (729 - 670), maximum APR for Quartz credit tier (569 and under). Financing up to 100% (10% for Quartz).
Auto loan score 68 · Carrot Score 61
Rate checked · Auto loans rates on its site
Rates and branches - 5.75%APRas low as
Terms
APR as low as stated. Annual Percentage Rates may be higher or lower depending on credit history. Loans are subject to underwriting.
Auto loan score 65 · Carrot Score 73
Rate checked · Auto loans rates on its site
Rates and branches - 5.94%APRas low as
Terms
Rate based on term and creditworthiness. Must qualify for membership.
Auto loan score 64 · Carrot Score 69
Rate checked · Auto loans rates on its site
Rates and branches - 5.99%APRas low as
Terms
New vehicles only.
Auto loan score 86 · Carrot Score 91
Rate checked · Auto loans rates on its site
Rates and branches - 5.99%APRas low as
Terms
Model year 2021 and newer. Rate is as low as. New Untitled Vehicles Only, $7,500 minimum balance.
Auto loan score 81 · Carrot Score 85
Rate checked · Auto loans rates on its site
Rates and branches - 5.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Relationship APR. Requires participation in multiple CFCU products/services (checking account, share certificate, active VISA account, mortgage/home equity loan, and/or electronic service package).
Auto loan score 66 · Carrot Score 79
Rate checked · Auto loans rates on its site
Rates and branches - Northern Lights Community Federal Credit UnionNew Vehicles 2026- 2027 · up to 60 months
Credit union · 1 branch
5.99%APRas low asAuto loan score 66 · Carrot Score 61
Rate checked · Auto loans rates on its site
Rates and branches - Montcalm Public Employees Credit UnionNew Vehicles (2024 & newer) · 49–60 months
Credit union · 1 branch
6.00%APRas low asAuto loan score 63 · Carrot Score 62
Rate checked · Auto loans rates on its site
Rates and branches - 6.01%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rates as low as 6.005% APR on loans for new or pre-owned cars and trucks with terms up to 84 months. Based on highest credit tier; includes 0.25% autopay discount and $175 processing fee. Example given for 2025 or newer vehicle, 60-month term on $20,000 loan at 5.64% interest rate (6.005% APR).
Auto loan score 64 · Carrot Score 60
Rate checked · Auto loans rates on its site
Rates and branches - 6.15%APRas low as
Terms
Rates as low as stated. 48 Months; longer terms available. Rate based on term and credit worthiness.
Auto loan score 65 · Carrot Score 89
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