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Your loan’s interest rate is a major factor in your overall loan cost. We’ve compiled a list of lenders that currently offer the best auto loan rates for both new and used cars.

The average car loan interest rate is 6.35% for new cars and 11.62% for used cars, according to Experian 's State of the Automotive Finance Market report from the fourth quarter (Q4) of 2024.

Current auto loan rates have climbed substantially following the Fed’s recent interest-rate hikes, with the average new-car loan rate reaching 6.07% in the fourth quarter of 2022.