Best Used Car Loans for April 2025

• Used APR Range: 6.39%–18.00%
• Used Loan Amounts: $1,000–$300,000
• Used Loan Terms: 12–84 months

First Tech Federal Credit Union is our top pick for used auto loans, largely thanks to being flexible with loan terms and vehicle qualifications. First Tech’s minimum loan amount ($1,000) is nearly as low as it gets, which is helpful if you want to buy an inexpensive vehicle. You likely won’t have to borrow more than the car is worth. And you can pick repayment terms as short as one year, if you can afford it, which can help keep overall costs low by reducing interest costs compared to a longer term.

First Tech has relatively lenient mileage and age restrictions too, so you can get a loan for an older, well-traveled vehicle. It allows vehicles up to 10 years old with up to 150,000 miles; that mileage limit is as high as it gets among lenders in our research (aside from USAA, which has no limit). And you’re not limited to dealerships—you can use a First Tech loan to buy a car from a private party, expanding your options even further.

You’ll need to join First Tech to get an auto loan, but it may easily be worth it if you can get the loan you need at a reasonable rate. Anyone can join by making an $8 donation to the Financial Fitness Association or meeting other requirements.

• Membership requirement: Yes, $13 in total; can join by opening a savings account with $5 and 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

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

If you have great credit and want the lowest APR you can get, consider pre-qualifying with Consumers Credit Union. Consumers’ minimum APR for used car loans is as low as it gets among lenders included in our research, which could let you save some money compared to a lender with a higher minimum rate.

But you’ll have to earn that excellent rate, and not all vehicles are eligible. Consumers looks for a minimum of five years of credit history and a minimum credit score of 681, although other requirements are involved. 

You can’t use a Consumers auto loan to buy a car from a private party—you must go to a dealership. You can only borrow up to $55,000. And you’re limited to cars no older than 6 years old with no more than 100,000 miles. Consumers’ vehicle restrictions are more stringent than most, but if you qualify you may get an exceptionally 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

• Used APR Range: 5.99%–28.00%
• Used Loan Amounts: Minimum of $7,500
• Used Loan Terms: 48–72 months

There are a lot of online auto loan lenders with odd names pushing you to get a loan. Instead, you may want to go with a well-established bank you’re more familiar with. Bank of America is available nationwide and can meet that need for many people.

You won’t find many flashy features, but you can get a rate discount of 0.25% to 0.50% if you’re a BofA Preferred Rewards member. You can pre-qualify for a rate that’ll be available 30 days, although you need a Bank of America login to pre-qualify. If you don’t have one, you’ll need to submit a full application to check your eligibility and rates.

One downside is that Bank of America doesn’t provide loans for private party vehicle purchases, so you’re limited to dealerships. And you’ll have to borrow at least $7,500, which may be too much for some vehicles. 

• 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

• Used APR Range: 6.98% and up
• Used Loan Amounts: $5,000– $500,000
• Used Loan Terms: 12–84 months

Your loan’s APR is important, but your other loan terms play an important role in the kind of vehicle you can get and how much you pay. In particular, the loan amount you qualify for will help determine how much car you can buy. And the repayment term you choose helps determine the size of your monthly payment and how much you pay overall.

U.S. Bank is a good pick if you need some flexibility or are looking for loan terms on the outer end of the typical range, particularly when it comes to repayment terms. You can get a loan for as short as one year or as long as seven years, the widest range available among lenders included in our research. 

You may be able to get your loan funds on the same day you’re approved, according to a media representative, but this is likely only for qualified borrowers. You won’t be able to use a U.S. Bank loan for a private party purchase from an individual. And you can’t pre-qualify; you’ll have to submit a full application and submit to a hard credit inquiry to check your rates.

• Membership requirement: No
• 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
• Private party loans: Not allowed
• Maximum loan-to-value ratio: Not disclosed
• Maximum accepted mileage: Not disclosed
• Maximum accepted age: 9 years

• Used APR Range: Not disclosed
• Used Loan Amounts: Minimum of $4,000
• Used Loan Terms: 24–84 months

If you’re not shopping new, Capital One is another lender with loans suited to older cars. It’ll finance vehicles up to 10 years old with up to 150,000 miles, giving you a wide selection of cars to choose from. You’re limited to dealerships, rather than individual sellers, but Capital One’s Auto Navigator can make finding the right car a bit easier.

Capital One allows you to pre-qualify without being an active banking customer, which isn’t true for all lenders. This can take some of the stress out of rate-shopping, although you will need to set up a Capital One account, which shouldn’t take long. The terms you pre-qualify for can be included in Auto Navigator, simplifying the whole car-buying process even further.

One downside to getting a loan through Capital One is the potential for an extra fee. According to a company representative, you may pay an origination fee that varies in cost. Most other lenders included in our research don’t charge origination fees.

• 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

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

Dealing with bad credit can be difficult when you don’t have a co-signer, but don’t despair. There are lenders that may lend to you, although you’ll likely need to accept worse terms than average. But most lenders don’t disclose their credit requirements, unfortunately, so it can be tough to know where to focus when rate shopping.

Ally Bank is one of the few lenders included in our research to provide a recommended minimum credit score, and it’s just 520. That’s in the “Poor” range of the typical FICO credit score. Ally also discloses its minimum income requirement: $2,000 per year. Keep in mind that you’ll need to meet a variety of other borrower requirements too.

You can get an exceptionally high loan-to-value (LTV) ratio (the ratio of your loan to the value of the car) from Ally—your loan amount can be up to 140% of the car’s value. This likely won’t matter for most borrowers but in some cases it may be necessary, such as if you have to pay quite a few extra fees for the vehicle purchase.

A major limitation is that you can only use an Ally auto loan with certain partner dealerships. You’ll have to use the dealer locator tool on Ally’s website and contact specific dealerships to check your loan eligibility. But if you have poor credit or need a very high LTV ratio, you may have to jump those hurdles to get a loan.

• 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