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Best auto loan rates in June 2025

Rates start at 4.33%

Updated May 30, 2025

What to know first: The current auto loan annual percentage rate (APR) ranges from about 4 percent to 30 percent. Average auto loan interest rates sit at 7.42 percent for a 60-month new car loan, according to Bankrate's weekly survey. To find the best interest rate for your credit score and financial background, Bankrate's team of experts have reviewed hundreds of data points to inform our top auto loan picks.

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NEW

myAutoLoan: Best for good credit borrowers

4.0
APR from
6.49%
Loan term
2-7 yrs
Loan amount
Starting at $8,000
Min credit score
600
See ratesArrow Right

Apply on partner site

LightStream: Bankrate 2025 Award Winner For Best Online Lender

4.0
APR from
6.94- 15.19%
* with AutoPay
Loan term
2-7 yrs
Loan amount
$5k-$100K
Min credit score
Not disclosed
See ratesArrow Right

Apply on partner site

NEW

Carputty: Best for auto loan for used car purchase

4.4
APR from
4.32- 14.07%
Loan term
4-6 yrs
Loan amount
$25k-$250K
Min credit score
680
See ratesArrow Right

Apply on partner site

NEW

Tenet: Best for specialized EV loans

4.1
APR from
5.99- 16.20%
Loan term
3-7 yrs
Loan amount
$15k-$95K
Min credit score
Not disclosed
Read our reviewArrow Right

Read review on Bankrate

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A closer look at the best auto loan lenders

LightStream: Bankrate Awards winner best from an online lender

Overview: LightStream offers unsecured personal loans to borrowers in all 50 states. Unlike traditional auto lenders that work with a network of dealerships, LightStream sends funds directly to the borrower. Although the minimum APR is competitive, the maximum is quite steep. 

Fixed APR
6.94%–15.19%
Loan amount
$5k– $100k
Min credit score
Not specified

Tenet: Best for specialized EV loans

Rating: 4.1 stars out of 5
4.1

Overview: Tenet is a lender that specifically finances electric vehicles and plug-in hybrids. It has an online marketplace to view your options and apply quickly. Plus, it also has options to finance at-home charging systems when you buy your vehicle.

Fixed APR
5.99%–16.20%
Loan amount
$15k– $95k
Min credit score
Not specified

Carputty: Best for online car buying 

Rating: 4.4 stars out of 5
4.4

Overview: Carputty is a direct lender that allows borrowers to finance multiple vehicle purchases at once. It offers higher than usual loan amounts, called lines of credit, up to $250,000. Along with that borrowers can access funding as soon as the same day.

Fixed APR
4.32%–14.07%
Loan amount
$25k– $250k
Min credit score
680

Consumers Credit Union: Best for fair credit borrowers

Overview: Unlike many other lenders, myAutoLoan offers a wide range of financing options for its borrowers. Its rates are competitive, and you may be able to qualify with a fair credit score. However, it does have a high minimum loan amount of $8,000.

Fixed APR
6.49%
Loan amount
Starting at $8,000
Min credit score
600

RateGenius: Best for comparing refinancing offers

Rating: 4.1 stars out of 5
4.1

Overview: RateGenius updates its auto loan refinancing rates daily, which is handy if you want to keep an eye on the market and refinance when rates are low. The lenders in its network also allow co-applicants, and while it isn’t upfront about the credit you need to qualify, it may accept borrowers with fair credit.

Fixed APR
4.67%
Loan amount
Not specified
Min credit score
Not specified

Calculate your auto loan payment

Use Bankrate’s auto loan calculator to see how different interest rates will impact your monthly payment.

Auto Loan Calculator

Vehicle Condition

Estimated monthly payment

$270

Total loan amount paid

$15,000

Total interest paid

$1,172

Total cost of loan

$16,172

Current car loan interest rates

On a weekly basis, Bankrate surveys the 10 largest banks and thrifts in U.S. markets. Bankrate experts crunch the numbers to find average interest rates for common loan terms and help you know the best time to buy a car.

Average rates as of May 28, 2025

60-month new car 7.23%
48-month new car 7.10%
48-month used car 7.63%
36-month used car 7.47%

How to choose the best auto loan lender

Bankrate can help you find the right auto loan for your needs. Browse top-rated lenders in Bankrate's auto loans table, or filter lenders at the top of the page to narrow down to your best options. Keep the following details in mind when comparing lenders:

  • Interest and fees: Your annual percentage rate (APR) is the annual cost of interest and fees. In general, a higher APR will result in a higher monthly payment.
  • Loan term: A longer loan term may lower your monthly costs, but you will pay more interest. To save money, pick the shortest loan term you can reasonably afford.
  • Approval requirements: Lenders consider your credit score, income and debt-to-income (DTI) ratio when you apply for an auto loan.

Why is it important to compare more than monthly payments?

It’s important to look beyond the monthly payment so you’re aware of all the terms of the loan. There are many factors, such as the interest rate and loan term, that help determine the monthly payment. For instance, one lender might be able to offer a lower monthly payment compared to other lenders because the loan term is longer. You’d save money on monthly payments, but you’d pay more interest in the long run. Review all the terms for each lender, including the interest rates, the loan terms and fee structures.
Bankrate logo Beverly Harzog, Nationally-recognized finance expert

Types of auto loans

Car loan options go beyond just new and used. Each auto loan type has specific uses that cater to certain types of borrowers, and knowing what type you need can make the loan shopping process easier.

FAQs about auto loans

How we choose our best auto loan lenders

Bankrate's trusted auto loans industry expertise

48

years in business

26

lenders reviewed

20

loan features weighed

520

data points collected

The Bankrate team evaluated over two dozen lenders to select our top picks for the best auto loans. Our 20-point system judged how lenders perform across four main categories.