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 91–105 of 138 in Michigan · median 5.00% APR
- 5.36%APRas low as
Terms
2025 or newer vehicle. Rate is 5.20%.
Auto loan score 77 · Carrot Score 89
Rate checked · Auto loans rates on its site
More details - 5.44%APRas low as
Auto loan score 76 · Carrot Score 75
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
Up to 100% LTV Max. Rate determined by credit score and loan to value at time of application.
Auto loan score 74 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
For model years 2025 and newer. Rates based on creditworthiness.
Auto loan score 74 · Carrot Score 95
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
Up to 84 months; up to 100% financing; no pre-payment penalties; rates based on credit qualifications.
Auto loan score 74 · Carrot Score 97
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Payment as low as $19.10 per $1,000 borrowed. As low as rate reflects established qualifying monthly direct deposit totaling a minimum of $900.00 in the previous or current month.
Auto loan score 74 · Carrot Score 97
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
Rates as low as 5.49% APR. Rate varies based on creditworthiness, underwriting standards, loan term, and vehicle age. Not all members will qualify for the lowest rate. Rate subject to change without notice.
Auto loan score 74 · Carrot Score 74
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
Vehicle model years 2021-2026. Actual loan rate determined by creditworthiness. If the balance is over $50,000, loan qualifies for a discount of 1% for the first six months.
Auto loan score 74 · Carrot Score 92
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
- 5.49%APRas low as
Terms
Rates as low as 5.49% APR with max terms up to 84 months.
Auto loan score 74 · Carrot Score 77
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Up to 75 months (61 – 75 month term only for requested amount of min. $15K or greater, based on MSRP). 5.49% rate requires automatic payment and 60-month max term (otherwise add 0.25% for coupon payment).
Auto loan score 71 · Carrot Score 81
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
With qualifying Direct Deposit (at least $1,000/mo) and Auto Pay discount. Applicable to new and used vehicles.
Auto loan score 70 · Carrot Score 87
Rate checked · Auto loans rates on its site
More details - Financial Plus Credit UnionVehicle Loans (2026-2021 Models) · up to 60 months
Credit union · 13 branches
5.49%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model years 2026-2021; with 1.00% Loyalty Discount (requires direct deposit of payroll and auto pay). Rates as low as stated, subject to creditworthiness. Direct Deposit/Auto Pay Cancellation Fee of $125.00 applies if requirements are not maintained.
Auto loan score 70 · Carrot Score 69
Rate checked · Auto loans rates on its site
More details - 5.49%APRas low as
Terms
New: 2026 vehicles; Up to 66 Months
Auto loan score 70 · Carrot Score 85
Rate checked · Auto loans rates on its site
More details - 5.50%APRas low as
Terms
Rate shown is before discount is applied (New & Used Autos APR as low as 5.50%). Take 1.00% APR off standard rates for new 2025/2026 models, or 0.25% APR off standard rates for used models (2021 or newer). Floor rate is 5.50% APR.
Auto loan score 73 · Carrot Score 87
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