Best Auto Loan Rates and Financing for March 2025

• APR Range: 5.79%–28.00%
• Loan Amounts: Minimum of $7,500
• Loan Terms: 48–72 months

Bank of America earned the highest overall score in our research into auto lenders, thanks in large part to its generous auto loan rates. It offers loans for new and used cars, along with refinance and lease buyout loans. BofA doesn’t provide loans for private party auto purchases—you must buy a vehicle from a dealership.

If your credit isn’t the best, the maximum annual percentage rate (APR) is the highest we found. With poor credit, you generally have to settle for a high APR—if this is the case for you, try to pay off the loan as fast as possible to reduce the cost of interest. Bank of America doesn’t have a prepayment fee, although other auto lenders might.

On the other hand, if you’ve got great credit you can secure a fairly low rate (but not a top-tier rate). And Bank of America Preferred Rewards members can get a rate discount of up to 0.50% (regardless of credit status).

• Membership requirement: None
• Minimum credit score: Not disclosed
• Minimum credit history: Not disclosed
• Minimum income requirement: Not disclosed
• Maximum debt-to-income ratio: Not disclosed

• Loan options: New, used, refinance, lease buyout
• Private party loans: Not allowed
• Maximum loan-to-value ratio: Not disclosed 
• Maximum accepted mileage: 125,000
• Maximum accepted age: 10 years

• APR Range: 4.99%–22.25%
• Loan Amounts: $20,000–$55,000
• Loan Terms: 36–84 months

If you’ve got excellent credit, it makes sense to shop around for the absolute lowest rate you can get. Consumers Credit Union has low APRs all around, but especially for used car loans—its rates for used cars are the lowest we found in our research.

• New car loans: 4.99%–17.54%
• Used car loans: 4.99%–22.25%
• Refinance car loans: 5.49%–22.25%

You can pre-qualify and apply for a loan without becoming a member of Consumers Credit Union, but if you want to accept a loan offer you’ll need to become a member. That requires a $5 fee and a $5 deposit into a savings account, a relatively minor requirement when it comes to credit unions, and one that may be worth getting a low rate. 

• Membership requirement: Yes, $10 in total; must pay a $5 fee and open a new savings account with $5
• Minimum credit score: 681
• Minimum credit history: 5 years
• Minimum income requirement: $3,000
• Maximum debt-to-income ratio: 45%

• Loan options: New, used, refinance, cash out refinance
• Private party loans: Not allowed
• Maximum loan-to-value ratio: 115%
• Maximum accepted mileage: 100,000
• Maximum accepted age: 6 years

• APR Range: Not disclosed
• Loan Amounts: Minimum of $5,000
• Loan Terms: 12–84 months

If you have poor credit, it can be difficult to find a loan and you’ll generally have to accept a higher interest rate. But there are options, and it still makes sense to shop around. Ally is worth a look because its minimum recommended credit score is just 520 (according to a media rep), giving you a better-than-usual chance at approval, but keep in mind there are other borrower requirements to meet.

Ally provides new, used, and refinance loans, although there’s an important limitation to be aware of: You can’t pre-qualify for new and used loans online, and you can only use an Ally auto loan to buy a vehicle from certain dealerships. That means you’ll need to visit a dealer to see if you qualify. Ally has a tool on its website to search for dealerships in your area, for a variety of different car makes. Use this to see if there are any partner dealers near you.

Ally does allow you to pre-qualify for auto refinance loans online. It also provides cash-out refinancing and lease buyout loans, if you want to keep a car you’ve been leasing.

• Membership requirement: No
• Minimum credit score: 520
• Minimum credit history: Not disclosed
• Minimum income requirement: $2,000
• Maximum debt-to-income ratio: Not disclosed

• Loan options: New, used, refinance, cash-out refinance, lease buyout
• Private party loans: Not allowed
• Maximum loan-to-value ratio: 140%
• Maximum accepted mileage: 121,000
• Maximum accepted age: Not disclosed

• APR Range: 6.25%–18.00%
• Loan Amounts: $1,000–$300,000
• Loan Terms: 12–84 months

First Tech Federal Credit Union earned the top spot for used car loans because it scored highly in a few key areas, especially used car loan terms (rates, amounts, etc.), maximum accepted mileage, and maximum accepted age.

Many lenders restrict the mileage and age of the vehicles you buy with their loans, and many require you to buy a vehicle from a dealership. This limits the range of vehicles you can get quite a bit. But First Tech has limits that are about as high as they come—150,000 miles and 10 years old—and it allows you to buy vehicles from private parties.

Consider First Tech as you shop for auto loan rates. Its rates aren’t the lowest we found, but its widely accessible loans could mean the difference between getting the car you want and settling for something else.

• Membership requirement: Yes; can join First Tech by joining the Financial Fitness Association for $8
• Minimum credit score: Not disclosed
• Minimum credit history: Not disclosed
• Minimum income requirement: Not disclosed
• Maximum debt-to-income ratio: 50%

• Loan options: New, used, refinance, lease buyout
• Private party loans: Allowed
• Maximum loan-to-value ratio: Not disclosed
• Maximum accepted mileage: 150,000
• Maximum accepted age: 10 years

• Refinance APR Range: 4.99%–22.99%
• Refinance Loan Amounts: $4,000–$55,000
• Refinance Loan Terms: 36–84 months

If you want to refinance your existing auto loan, check out LendingClub. It only offers refinance loans, but the rates are as low as you’ll find outside military-exclusive lenders like Navy Federal. 

LendingClub’s low minimum loan amount ($4,000) means you can refinance and save some money even on a small loan or the remains of an old loan you’ve been paying off for a while. There’s no origination fee to cut into your savings.

The loan terms and qualifications are pretty lenient. The minimum recommended credit score is 600, and you can borrow up to 140% of the value of the vehicle. If you’ve got an older vehicle, that’s alright—you can refinance cars up to 10 years old and with up to 120,000 miles.

• Membership requirement: None
• Minimum credit score: 600
• Minimum credit history: 3 tradelines
• Minimum income requirement:  $1,000
• Maximum debt-to-income ratio: 70%

• Loan options: Refinance
• Private party loans: Not available
• Maximum loan-to-value ratio: 140%
• Maximum accepted mileage: 120,000
• Maximum accepted age: 10 years

• APR Range: 5.49%–18.00%
• Loan Amounts: $5,000–$200,000
• Loan Terms: 36–84 months

NASA FCU, despite what you may think from the name, is an excellent lender of auto loans to anyone—you just need to open a savings account with at least $5. If you do, you can access low rates and great terms on a variety of financial products, not just auto loans. 

NASA FCU’s low auto loan rates are only beaten by a few other companies, among them some military-exclusive lenders. It offers a variety of loan types, including lease buyout loans and private party loans. The maximum loan-to-value ratio is only 100%, however, which is lower than the other lenders we researched; this means you may not be able to use the loan to pay for certain extra features or fees that come with a vehicle.

Investopedia’s research into customer satisfaction among auto lenders found that NASA FCU earned one of the highest overall scores, with 4.3 points out of 5. This overall customer satisfaction score aggregates certain customer service features along with customer ratings from a variety of sources.

• Membership requirement: Yes. There is no fee to join, but you must hold $5 in a savings account
• Minimum credit score: Not disclosed
• Minimum credit history: Not disclosed
• Minimum income requirement: Not disclosed
• Maximum debt-to-income ratio: Not disclosed

• Loan options: New, used, refinance, cash-out refinance, lease buyout
• Private party loans: Allowed
• Maximum loan-to-value ratio: 100%
• Maximum accepted mileage: 100,000
• Maximum accepted age: Not disclosed

• APR Range: Up to 22.0%
• Loan Amounts: Minimum of $4,000
• Loan Terms: 24–48 months

If you want to buy an older vehicle, you’ll need to find a lender that accommodates the age and mileage. Capital One is willing to cover more vehicles than most lenders, allowing cars up to 10 years old and with 150,000 miles. You’re limited to shopping at dealerships with Capital One, although the bank provides a car-buying service—Auto Navigator—to make this easy and help you find the right ride.

Some banks require you to be a customer to pre-qualify for an auto loan, making it harder to shop rates. Capital One doesn’t have that limitation, so you can check your rates and search for a car all in the same place.

Some of Capital One’s terms differ slightly from one loan type to another. The lower limit for new and used auto loans is $4,000, for example, making it relatively easy to finance a cheaper old vehicle. But if you want to refinance you’ll need to borrow at least $7,500—more than most other lenders included in our research. Capital One doesn’t provide cash-out refinancing or lease buyout loans.

• Membership requirement: No
• Minimum credit score: Not disclosed
• Minimum credit history: Not disclosed
• Minimum income requirement: $1,500
• Maximum debt-to-income ratio: Not disclosed

• Loan options: New, used, refinance
• Private party loans: Not allowed
• Maximum loan-to-value ratio: Not disclosed
• Maximum accepted mileage: 150,000
• Maximum accepted age: 10 years

• APR Range: 5.74%–15.49%
• Loan Amounts: Not disclosed
• Loan Terms: 12–84 months

Digital Federal Credit Union (DCU) earned the highest score in Investopedia’s overall customer satisfaction rating—4.6 out of 5. This score aggregates a variety of factors, including mobile app ratings, customer ratings, and customer service availability. DCU should be your first stop if you’re looking for a trusted, well-regarded lender with satisfied customers.

You can take out a loan for as little as a year, if you don’t have too much to finance, or as long as seven years. And you can cover up to 130% of the vehicle cost, if necessary, to help cover purchase fees. If you take out a loan for a fully electric vehicle, you’ll be eligible for a 0.25% rate discount.

DCU doesn’t disclose its loan amounts, unfortunately. You’ll need to begin the application process to see them. And you’ll need to become a DCU member to accept a loan, although you don’t need to be a member to apply and check your terms.

• Membership requirement: Yes, can become eligible to join DFCU with minimum $10 fee by joining Reach Out for Schools
• Minimum credit score: Not disclosed
• Minimum credit history: Not disclosed
• Minimum income requirement: Not disclosed
• Maximum debt-to-income ratio: Not disclosed

• Loan options: New, used, refinance, cash-out refinance, lease buyout
• Private party loans: Allowed
• Maximum loan-to-value ratio: 130%
• Maximum accepted mileage: Not disclosed
• Maximum accepted age: Not disclosed