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 106–120 of 138 in Michigan · median 5.00% APR
- 5.50%APRas low as
Terms
APR based on credit and model year
Auto loan score 73 · Carrot Score 78
Rate checked · Auto loans rates on its site
More details - ELGA Credit UnionNew Auto Loan Rates & Used Auto Loan Rates (By Model Year) · up to 72 months
Credit union · 16 branches
5.50%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model Years 2021 – 2026. Includes 0.50% rate reduction for direct deposit and automatic payments from ELGA Credit Union account.
Auto loan score 73 · Carrot Score 77
Rate checked · Auto loans rates on its site
More details - 5.50%APRas low as
Terms
APR as low as stated
Auto loan score 73 · Carrot Score 88
Rate checked · Auto loans rates on its site
More details - 5.50%APRas low as
Terms
Rates are as low as stated and depend on evaluation of applicant credit, term, and loan to value.
Auto loan score 73 · Carrot Score 68
Rate checked · Auto loans rates on its site
More details - 5.59%APRas low as
Terms
Up to $15k loan amount. 60 Month Max. Rates as low as stated; APR can vary based on creditworthiness and terms.
Auto loan score 72 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - 5.60%APRas low as
Terms
For new and used vehicles. Available to members with qualifying credit scores.
Auto loan score 72 · Carrot Score 81
Rate checked · Auto loans rates on its site
More details - 5.64%APRas low aswith conditions
This rate needs a checking account, direct deposit or relationship with the lender.
Terms
Premier APR; As low as
Auto loan score 66 · Carrot Score 73
Rate checked · Auto loans rates on its site
More details - Community Choice Credit UnionAuto Loans For new and used cars · 49–60 months
Credit union · 23 branches
5.74%APRas low asTerms
Minimum loan amount $10,000+. 60 monthly payments of $19.22 per $1,000 borrowed.
Auto loan score 70 · Carrot Score 78
Rate checked · Auto loans rates on its site
More details - 5.74%APRas low as
Terms
Vehicle model years 2022 - 2026.
Auto loan score 70 · Carrot Score 93
Rate checked · Auto loans rates on its site
More details - People Driven Credit UnionNew & Used Auto Loans (5 Years Old or Newer) · 61–72 months
Credit union · 5 branches
5.74%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Term 61-72 months. Rate includes 0.25% AutoPay discount with direct deposit from a PDCU account.
Auto loan score 70 · Carrot Score 74
Rate checked · Auto loans rates on its site
More details - 5.74%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Rates shown are for well qualified borrowers. Actual rates may vary based on credit history, loan purpose, amount, loan-to-value, term, and vehicle year. The lowest advertised rate for auto loans includes a 0.25% discount for borrowers who set up Auto Pay at loan closing and finance a 2019 or newer vehicle with a term of 66 months or less. Auto pay is optional and does not affect credit approval.
Auto loan score 67 · Carrot Score 89
Rate checked · Auto loans rates on its site
More details - 5.74%APRas low as
Terms
Rates as low as 5.74% APR for 2024 and newer models. Terms up to 84 months. Rate is an estimate and may vary by term selected.
Auto loan score 66 · Carrot Score 74
Rate checked · Auto loans rates on its site
More details - 5.75%APRas low as
Auto loan score 69 · Carrot Score 64
Rate checked · Auto loans rates on its site
More details - 5.75%APRas low as · up to 18.75%
5.75% APR, up to 18.75%
Terms
60 Months; minimum APR requires Silver credit tier (729 - 670), maximum APR for Quartz credit tier (569 and under). Financing up to 100% (10% for Quartz).
Auto loan score 69 · Carrot Score 61
Rate checked · Auto loans rates on its site
More details - 5.75%APRas low as
Terms
Rates, terms and amounts borrowed are dependent on credit, collateral, and loan type.
Auto loan score 66 · 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