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 16–21 of 21 in Ann Arbor, MI metro · median 5.64% APR
- 6.32%APRas low as
Auto loan score 64 · Carrot Score 73
Rate checked · Auto loans rates on its site
Rates and branches - 6.49%APRas low as
Terms
6.49% APR is based on 60-month term, 2022 or newer vehicle, with a minimum credit score of 740. Subject to credit approval; rates subject to change.
Auto loan score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.63%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model years 2022 – 2026. Credit score 720 or greater. Includes 0.25% autopay discount for loan payments made automatically from a Bank of Ann Arbor checking or savings account.
Auto loan score 62 · Carrot Score 80
Rate checked · Auto loans rates on its site
Rates and branches - 6.67%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
2026 model year. 10% down required.
Auto loan score 63
Rate checked · Auto loans rates on its site
Rates and branches - 6.99%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Minimum loan $50,000. As low as rate includes 0.25% autopay discount.
Auto loan score 64 · Carrot Score 72
Rate checked · Auto loans rates on its site
Rates and branches - 9.95%APRas low as · up to 18.45%
9.95% APR, up to 18.45%
Terms
Minimum Amount to Finance: $5,000.
Auto loan score 60
Rate checked · Auto loans rates on its site
Rates and branches
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 Ann Arbor, MI metro
21 banks and credit unions · checked Oct 15–22
- Typical
- 5.64%
- Top 10% up to
- 4.99%
- Banks, typical
- 6.28%
- Credit unions, typical
- 5.24%
How does your bank’s rate compare?
Find your bank or credit union to see all its rates and how they compare near you.
Ann Arbor, MI metro
Top Carrot institutions
Ranked across their CDs, savings, auto loans and credit cards. How scores work
- CommunityAmerica Credit UnionCredit union · 2 branches
- People Driven Credit UnionCredit union · 1 branch
- Michigan Schools & Government Credit UnionCredit union · 2 branches