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 138 in Michigan · median 5.00% APR
- Settlers Federal Credit UnionSecured Loans (Auto, recreational vehicle, etc)
Credit union · 2 branches
3.00%APRas low as · up to 18.00%3.00% APR, up to 18.00%
Terms
Loan rates vary depending on credit score and collateral. Up to 0.50% in discounts available (.25% for payment protection, .25% for direct deposit).
Auto loan score 99 · Carrot Score 99
Rate checked · Auto loans rates on its site
More details - 3.50%APRas low as
Terms
As low as rate for New Auto. Subject to credit approval; all may not qualify. Rates and terms may vary depending on individual credit history and underwriting factors; market conditions or other business factors; all loan programs, rates, terms, and conditions subject to change at any time without notice.
Auto loan score 97 · Carrot Score 94
Rate checked · Auto loans rates on its site
More details - 3.99%APRas low as
Auto loan score 95 · Carrot Score 95
Rate checked · Auto loans rates on its site
More details - 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 82 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 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 95
Rate checked · Auto loans rates on its site
More details - 4.14%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rate reflects additional 0.25% APR reduction when enrolled in automatic payment from a CASE checking account requested at loan closing. Applies to shortest term available, credit score above 720, and terms up to 84 months.
Auto loan score 94 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 4.24%APRas low as
Terms
Model year 2026 or older. APR as low as. New Money Only. Rates vary based on creditworthiness, underwriting standards and collateral conditions.
Auto loan score 93 · Carrot Score 97
Rate checked · Auto loans rates on its site
More details - 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 85
Rate checked · Auto loans rates on its site
More details - 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 86 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 4.25%APRas low as · up to 7.25%
4.25% APR, up to 7.25%
Terms
Rate with 0% Down; Term based on loan amount; Lowest rate requires 750+ credit score, highest rate for 649 and below
Auto loan score 93 · Carrot Score 93
Rate checked · Auto loans rates on its site
More details - 4.25%APRas low as
Terms
APR on closed-end loans determined by borrower's credit score and term of loan. Gold & Platinum members earn an interest rate discount up to 0.25% APR.
Auto loan score 93 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 4.25%APRas low as
Terms
Rates based on credit scores. Rates are not available for refinancing existing loans with the IMKCFCU and are subject to change. Individual rates and terms may vary based on credit score, age of collateral, and term of loan.
Auto loan score 93 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 4.25%APRas low as
Terms
Rate is as low as 4.25% APR for terms as long as 108 Months. Rate may vary based on term selected and credit standing. Adjustments made for credit worthiness, account relationships, loan types, and loan value ratios.
Auto loan score 90 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 4.39%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model year: New Auto 2025 & Newer. Rates shown include a 0.25% Relationship Discount for qualified borrowers.
Auto loan score 86 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 4.44%APRas low as
Terms
APR as low as 4.44%; terms up to 7 years (84 months) available for new or used cars.
Auto loan score 92 · Carrot Score 91
Rate checked · Auto loans rates on its site
More details
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
138 banks and credit unions · checked Nov 6–7
- Typical
- 5.00%
- Top 10% up to
- 4.42%
- Credit unions, typical
- 5.00%
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
- Great Lakes First Federal Credit UnionCredit union · 2 branches
- Dow Credit UnionCredit union · 2 branches