Auto Loan Rates 2026: What to Expect & How to Calculate Your Payment
Auto loan rates in 2026 average 6.5% for new cars and 8.5% for used. Here's what drives those numbers and what your payment actually looks like.
Current Auto Loan Rates by Credit Score
| Credit Score | New Car Rate | Used Car Rate |
|---|---|---|
| 750+ (Excellent) | 5.0–5.9% | 6.5–7.4% |
| 700–749 (Good) | 6.0–6.9% | 7.5–8.4% |
| 650–699 (Fair) | 7.5–9.5% | 9.5–12% |
| Below 650 | 10–18%+ | 12–20%+ |
What Your Monthly Payment Looks Like
On a $35,000 loan at 6.5% for 60 months, you'll pay $685/month and $5,950 in total interest. Extend to 72 months and you pay $584/month but $7,400 in interest — an extra $1,450.
4 Ways to Get a Better Rate
- Boost your credit — Even 20 points can drop your rate by 0.5%
- Put 20% down — Reduces loan amount and may unlock lower rates
- Shop 3+ lenders — Credit unions, banks, and online lenders all differ
- Choose a shorter term — 60 months almost always has a lower rate than 72
Calculate Your Exact Payment
Stop guessing. Plug in your price, down payment, trade-in, and rate:
Try the Auto Loan Calculator →