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 31–45 of 155 in Michigan · median 4.99% APR
- 4.50%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Auto loan score 82 · Carrot Score 93
Rate checked · Auto loans rates on its site
Rates and branches - 4.55%APRas low as
Terms
New vehicle. APR as low as. Rate as low as 4.50%.
Auto loan score 86 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - Cornerstone Community Financial Credit UnionAuto Loans - New & Used · 40–64 months
Credit union · 7 branches
4.69%APRas low asTerms
Minimum loan amount $7,500. Approval and actual rate offered are based on overall creditworthiness factors and collateral. Mileage and model year restrictions may apply. Rate discounts of up to 1% APR may be available.
Auto loan score 88 · Carrot Score 91
Rate checked · Auto loans rates on its site
Rates and branches - 4.70%APRas low as
Terms
2025-2026 Auto/Truck. Offered to members with good credit. Estimated monthly payment $18.74 per $1,000 borrowed.
Auto loan score 88 · Carrot Score 89
Rate checked · Auto loans rates on its site
Rates and branches - 4.71%APRas low as
Terms
Rate is 'as low as'. APR based on a sample loan of $20,000 with a $100 processing fee. Subject to credit approval.
Auto loan score 85 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - Gerber Federal Credit UnionVehicle Loans - Automobiles, Trucks and Street Motorcycles · up to 72 months
Credit union · 3 branches
4.74%APRas low aswith conditionsThis rate needs a checking account, direct deposit or relationship with the lender.
Terms
Model years 2016 - 2026. New & Used. APR as low as after maximum Loyal Member Discounts rate reduction of .75%. Based on credit history.
Auto loan score 87 · Carrot Score 88
Rate checked · Auto loans rates on its site
Rates and branches - 4.74%APRas low as
Terms
Model year 2026 or older. APR as low as 4.74% based on creditworthiness, underwriting standards, and collateral conditions. Estimated monthly payment per $1,000 borrowed is $18.76 for 60 months.
Auto loan score 87 · Carrot Score 92
Rate checked · Auto loans rates on its site
Rates and branches - 4.74%APRas low as
Terms
Payment per $1,000 is $18.75.
Auto loan score 87 · Carrot Score 89
Rate checked · Auto loans rates on its site
Rates and branches - People Driven Credit UnionNew & Used Auto Loans (5 Years Old or Newer) · 49–60 months
Credit union · 5 branches
4.74%APRas low aswith conditionsThis rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Term 49-60 months. Rate includes 0.25% AutoPay discount.
Auto loan score 87 · Carrot Score 93
Rate checked · Auto loans rates on its site
Rates and branches - 4.74%APRas low as
Terms
Rates as low as 4.74% APR. Terms up to 84 months. Finance new or used cars, trucks, and vans. Up to 100% financing. No application fees.
Auto loan score 87 · Carrot Score 87
Rate checked · Auto loans rates on its site
Rates and branches - 4.74%APRas low as
Terms
Term shows maximum number of months for loan. All rates featured are listed 'as low as' and are subject to credit approval and credit score.
Auto loan score 85 · Carrot Score 82
Rate checked · Auto loans rates on its site
Rates and branches - 4.74%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model year 2024 and Newer. Minimum loan amount is $10,000 for terms up to 72 months.
Auto loan score 83 · Carrot Score 72
Rate checked · Auto loans rates on its site
Rates and branches - Michigan United Credit Union2016-2026 Model Years Automobile & Truck Loan · up to 60 months
Credit union · 9 branches
4.74%APRas low asTerms
Rates as low as are based on applicant's credit score and model year of vehicle.
Auto loan score 81 · Carrot Score 87
Rate checked · Auto loans rates on its site
Rates and branches - 4.75%APRas low as
Auto loan score 87 · Carrot Score 77
Rate checked · Auto loans rates on its site
Rates and branches - 4.75%APRas low as
Terms
Rate based on 725 credit score. 84 month term on new vehicles only based on credit score. 10% down payment required.
Auto loan score 80 · Carrot Score 77
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 Michigan
155 banks and credit unions · checked Oct 16–22
- Typical
- 4.99%
- Top 10% up to
- 4.27%
- Banks, typical
- 6.54%
- Credit unions, typical
- 4.99%
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
- Chief Financial Credit UnionCredit union · 4 branches
- Meijer Credit UnionCredit union · 3 branches