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 46–60 of 138 in Michigan · median 5.00% APR
- 4.99%APRas low as
Terms
60-month term; as low as APR.
Auto loan score 84 · Carrot Score 82
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
As low as rate for auto loans. Term lengths ranging from 12 to 84 months.
Auto loan score 84 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 77
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 93
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
With VIP Perks Discount. The discount is applied to the loan as a rebate to the loan balance each month that VIP Perks status is maintained. Rate determined by credit experience.
Auto loan score 84 · Carrot Score 89
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 89
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
Rate is as low as 4.99% APR. Rates represent the lowest rate available to qualified borrowers based on credit history. Terms depend on amount financed. 100% financing and 84 month term available to qualified borrowers.
Auto loan score 84 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
Rates as low as 4.99% APR. Rates may vary based on credit history, term, and collateral.
Auto loan score 84 · Carrot Score 97
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
Rates as low as advertised; final rate determined by loan applicant's creditworthiness, qualifications and collateral conditions. Payment per $1,000 is $18.87.
Auto loan score 84 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 83
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 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 84 · Carrot Score 81
Rate checked · Auto loans rates on its site
More details - 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 81 · Carrot Score 82
Rate checked · Auto loans rates on its site
More details - 4.99%APRas low as
Terms
Model year 2021 or newer. Advertised APR 'as low as' 4.99% based on creditworthiness, term, and collateral. LTV up to 100% (excl. GAP).
Auto loan score 81 · Carrot Score 85
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