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 76–90 of 138 in Michigan · median 5.00% APR
- 5.19%APRas low as
Terms
2023-2025 model year. Up to 66 Months.
Auto loan score 81 · Carrot Score 95
Rate checked · Auto loans rates on its site
More details - 5.19%APRas low as
Auto loan score 81 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 5.20%APRas low as
Terms
Model years 2021-2026. Fixed APR as low as 5.20%. Max LTV up to 90% (up to 115% for Heroes Program). Minimum loan amount $15,000.
Auto loan score 76 · Carrot Score 81
Rate checked · Auto loans rates on its site
More details - 5.24%APRas low as
Terms
Rates are as low as; individual rates are based on credit performance. Will finance up to 95% of NADA retail value.
Auto loan score 80 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 5.24%APRas low as
Terms
APR as low as 5.24% for members with excellent credit. Model year 2023 & newer. 49 to 60 months. Monthly payment per $1000 is $18.99.
Auto loan score 80 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - OUR Credit UnionAuto Loans - Auto and Light Trucks 2019 & Newer · 66–75 months
Credit union · 5 branches
5.24%APRas low asTerms
Rate is as low as. 90 Days, No Payments for a limited time for qualified borrowers (new money only; interest continues to accrue).
Auto loan score 80 · Carrot Score 85
Rate checked · Auto loans rates on its site
More details - 5.24%APRas low as
Auto loan score 80 · Carrot Score 76
Rate checked · Auto loans rates on its site
More details - 5.24%APRas low as · up to 15.09%
5.24% APR, up to 15.09%
Terms
61 - 72 Months. Disclosed rates vary based on credit history and loan term. New and used vehicle rates are the same.
Auto loan score 80 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - 5.24%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
2025-2026 Model Years. Quoted rates include 0.25% member loyalty auto-pay discount.
Auto loan score 80 · Carrot Score 84
Rate checked · Auto loans rates on its site
More details - 5.25%APRas low as
Terms
Featured rate; APR as low as 5.25%
Auto loan score 79 · Carrot Score 86
Rate checked · Auto loans rates on its site
More details - 5.25%APRas low as
Auto loan score 79 · Carrot Score 83
Rate checked · Auto loans rates on its site
More details - 5.25%APRas low as
Terms
Model years 2023 - 2026. Rate is as low as based on credit score. Applies to purchases only.
Auto loan score 79 · Carrot Score 93
Rate checked · Auto loans rates on its site
More details - 5.30%APRas low as · up to 6.55%
5.30% APR, up to 6.55%
Terms
Credit score 580-800; best credit required for lowest rate
Auto loan score 77 · Carrot Score 84
Rate checked · Auto loans rates on its site
More details - Community West Credit UnionElectric/Hybrid Vehicle Loans (2026-2022) · up to 60 months
Credit union · 5 branches
5.30%APRas low asAuto loan score 70 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - DFCU FinancialNew Vehicle with Auto Pay from DFCU Account · up to 60 months
Credit union · 30 branches
5.34%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Up to 60 months. Risk based: APR is based on creditworthiness and loan term. Automatic payment discount included.
Auto loan score 71 · Carrot Score 78
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