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 31–45 of 138 in Michigan · median 5.00% APR
- 4.74%APRas low as
Terms
Auto & Motorcycle (2027 - 2022). 49-60 Months.
Auto loan score 88 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 4.74%APRas low as
Terms
Term shows maximum number of months for loan. All rates featured are listed 'as low as' and are subject to credit approval and credit score.
Auto loan score 87 · Carrot Score 83
Rate checked · Auto loans rates on its site
More details - 4.74%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 84 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - 4.74%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model year 2024 and Newer. Minimum loan amount is $10,000 for terms up to 72 months.
Auto loan score 84 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - Michigan United Credit Union2016-2026 Model Years Automobile & Truck Loan · up to 60 months
Credit union · 9 branches
4.74%APRas low asTerms
Rates as low as are based on applicant's credit score and model year of vehicle.
Auto loan score 82 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 4.75%APRas low as
Auto loan score 88 · Carrot Score 78
Rate checked · Auto loans rates on its site
More details - 4.75%APRas low as
Terms
Rate based on 725 credit score. 84 month term on new vehicles only based on credit score. 10% down payment required.
Auto loan score 81 · Carrot Score 78
Rate checked · Auto loans rates on its site
More details - 4.75%APRas low as
Auto loan score 81 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 4.79%APRas low aswith conditions
This rate needs autopay.
Terms
Vehicle year 2024 & Newer. Eligible for Take-Back. Best rate advertised; does not include $35 processing fee. 90 Days No Payment excluded from Take-Back loans. Rate and terms vary based on credit qualifications, age of collateral, payment protection, and Direct Deposit with AutoPay.
Auto loan score 87 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 4.85%APRas low as
Terms
Rates as low as 4.85% for 60 months; Check out our low rates for New Vehicles
Auto loan score 87 · Carrot Score 84
Rate checked · Auto loans rates on its site
More details - 4.90%APRas low as
Terms
As low as 4.90% APR. Maximum amount 100% purchase price of vehicle; maximum term up to 7 years.
Auto loan score 87 · Carrot Score 93
Rate checked · Auto loans rates on its site
More details - 4.95%APRas low as
Terms
Great Rate- Flexible Terms! Actual APR will be based upon individual credit worthiness, loan amount, term of loan and applicable prepaid items.
Auto loan score 79 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Auto loan score 84 · Carrot Score 81
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
2025 & Newer Vehicles/Motorcycles
Auto loan score 84 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model years 2023-2027. Automatic loan payment discount included. Based on credit history.
Auto loan score 84 · Carrot Score 94
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