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 155 in Michigan · median 4.99% APR
- 4.99%APRas low as
Terms
Rate as low as 4.99% APR for terms up to 84 months. Individual APR is determined based on credit score.
Auto loan score 78 · Carrot Score 71
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
New Titled Vehicles - 2024 & Newer. 72-month term is only available on model year 2020 or newer. Monthly payment of $16.10 per $1,000 borrowed.
Auto loan score 78 · Carrot Score 85
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Starting at 4.99% APR for up to 60 months.
Auto loan score 77 · Carrot Score 70
Rate checked · Auto loans rates on its site
Rates and branches - 4.99%APRas low as
Terms
Lowest rate available to qualifying members in highest credit tier. New Automobiles only at 72 months term; loan must be $20,000.00 or more.
Auto loan score 76 · Carrot Score 80
Rate checked · Auto loans rates on its site
Rates and branches - 5.00%APRas low as
Terms
APR based on credit and model year
Auto loan score 82 · Carrot Score 74
Rate checked · Auto loans rates on its site
Rates and branches - 5.00%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Model year 2021 and Newer. With Direct Deposit.
Auto loan score 82 · Carrot Score 80
Rate checked · Auto loans rates on its site
Rates and branches - 5.00%APRas low aswith conditions
This rate needs autopay and a checking account, direct deposit or relationship with the lender.
Terms
Up to 60 Months.
Auto loan score 77 · Carrot Score 67
Rate checked · Auto loans rates on its site
Rates and branches - 5.09%APRas low as
Terms
Autos 2018 - Newer. Payment per $1,000 borrowed based on maximum term is $18.92/mo.
Auto loan score 81 · Carrot Score 82
Rate checked · Auto loans rates on its site
Rates and branches - 5.14%APRas low as
Terms
APR as low as based on creditworthiness and underwriting standards. Up to 0.50% rate discount for all-electric/plug-in electric vehicles and switching to eStatements.
Auto loan score 81 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 5.14%APRas low as
Terms
For model years 2023 and newer. Credit score requirement: 751+ (A+).
Auto loan score 81 · Carrot Score 74
Rate checked · Auto loans rates on its site
Rates and branches - 5.19%APRas low as
Terms
2026-2027 model year. Up to 78 Months.
Auto loan score 80 · Carrot Score 92
Rate checked · Auto loans rates on its site
Rates and branches - 5.19%APRas low as
Auto loan score 80 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 5.24%APRas low as
Terms
Monthly payment per $1000 is $18.99.
Auto loan score 79 · Carrot Score 74
Rate checked · Auto loans rates on its site
Rates and branches - 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 79 · Carrot Score 84
Rate checked · Auto loans rates on its site
Rates and branches - 5.24%APRas low as
Auto loan score 79 · Carrot Score 76
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