Compare Bank & Credit Union Rates
Best auto loan rates, new and used
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 1–15 of 63 in Detroit, MI metro · median 4.99% APR
- 3.99%APRas low as
Terms
For model years 2025 and newer. Rates based on creditworthiness.
Auto loan score 94 · Carrot Score 98
Rate checked · Auto loans rates on its site
Rates and branches - 3.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Model Year: New or Used Vehicle, 2022 and Newer. Military APR: 1% rate discount available to Active Duty, Veterans, and Retirees with full direct deposit of $2,000+ into checking and military status verification. Cannot be combined with other discounts.
Auto loan score 81 · Carrot Score 82
Rate checked · Auto loans rates on its site
Rates and branches - 4.07%APRas low as
Terms
Rate as low as 3.99%, APR as low as 4.07%. Based on credit history. Costs vary from $45-$75 and are assessed by loan amount. 96 monthly payments of $12.19 per $1,000 borrowed.
Auto loan score 94 · Carrot Score 96
Rate checked · Auto loans rates on its site
Rates and branches - 4.24%APRas low as
Terms
APR may be higher based on credit score. NEW MONEY ONLY. Rates accurate as of November 3, 2025.
Auto loan score 93 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 4.24%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
New car. Includes 0.26% discount for automatic transfer payment.
Auto loan score 93 · Carrot Score 91
Rate checked · Auto loans rates on its site
Rates and branches - 4.24%APRas low as
Terms
APR as low as 4.24%. Term up to 72 months; maximum secured loan amount $60,000; LTV up to 125%; vehicles 7 years or newer.
Auto loan score 86 · Carrot Score 75
Rate checked · Auto loans rates on its site
Rates and branches - 4.29%APRas low as
Terms
As low as rate for 37-60 months on new vehicles (2025 and newer model years). Assumes excellent credit.
Auto loan score 88 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 4.44%APRas low as
Auto loan score 91 · Carrot Score 89
Rate checked · Auto loans rates on its site
Rates and branches - 4.45%APRas low as
Auto loan score 91 · Carrot Score 74
Rate checked · Auto loans rates on its site
Rates and branches - 4.49%APRas low as
Terms
Rates are determined by credit score, term and age of the collateral. Example: finance $10,000 at 4.49% for 48 months has payment of $228.01.
Auto loan score 89 · Carrot Score 93
Rate checked · Auto loans rates on its site
Rates and branches - Electrical Workers Local 58 Credit UnionNew Vehicles / Motorcycles · 37–60 months
Credit union · 1 branch
4.49%APRas low asAuto loan score 88 · Carrot Score 81
Rate checked · Auto loans rates on its site
Rates and branches - 4.49%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model Years 2021-2024. Quoted rates include a member discount for an active checking account with direct deposit and automatic payment of loan.
Auto loan score 87 · Carrot Score 87
Rate checked · Auto loans rates on its site
Rates and branches - 4.49%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Reflects a 0.25% APR discount for enrollment in automatic payments from an active TCCU checking account at funding and throughout the life of the loan.
Auto loan score 87 · Carrot Score 80
Rate checked · Auto loans rates on its site
Rates and branches - 4.50%APRas low as
Terms
For 2024 and newer vehicles. Rates are lowest possible rates based on credit score.
Auto loan score 85 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 4.50%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Auto loan score 82 · Carrot Score 93
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 Detroit, MI metro
63 banks and credit unions · checked Oct 16–22
- Typical
- 4.99%
- Top 10% up to
- 4.32%
- Banks, typical
- 6.37%
- 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.
Detroit, MI metro
Top Carrot institutions
Ranked across their CDs, savings, auto loans and credit cards. How scores work
- Chief Financial Credit UnionCredit union · 4 branches
- Extra Credit UnionCredit union · 2 branches
- Christian Financial Credit UnionCredit union · 12 branches