Auto Loans Rates
Auto loans are secured by the vehicle, which usually means lower rates than unsecured credit. Terms commonly run 36–72 months; longer terms lower the payment but raise total interest.
Quick answer
Current cited benchmarks — 60-month new-car loan, commercial banks: 7.14% (as of 2026-Q2); 72-month new-car loan, commercial banks: 6.97% (as of 2026-Q2).
Benchmarks
| Benchmark | Rate | Source |
|---|---|---|
| 60-month new-car loan, commercial banks G.19 Terms of Credit, commercial bank interest rates, not seasonally adjusted. | 7.14% as of 2026-Q2 | Board of Governors of the Federal Reserve System federalreserve.gov |
| 72-month new-car loan, commercial banks G.19 Terms of Credit, commercial bank interest rates, not seasonally adjusted. | 6.97% as of 2026-Q2 | Board of Governors of the Federal Reserve System federalreserve.gov |
National averages for context, not offers. Retrieved 2026-09-10 — always confirm the latest published figure at the source link.
Frequently asked questions
How do down payment and trade-in change my auto payment?
Both reduce the amount financed: amount financed = price + tax + fees − down payment − trade-in. A smaller financed amount means a lower payment and less total interest.
Is a longer auto term better?
A 72-month term lowers the monthly payment versus 60 months but usually carries a higher rate and substantially more total interest. Compare both in the calculator.
What is the current average auto loan rate?
The Federal Reserve G.19 publishes average commercial-bank new-car rates quarterly — see the cited benchmarks on the auto rates page for the latest published figures.
Should sales tax and fees be financed or paid upfront?
Paying them upfront reduces the financed amount and total interest. The calculator lets you enter tax and fees either way so you can compare.
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Cite this page
LoanMatchers Editorial Team. “Auto Loans Rates.” https://loanmatchers.com/rates/auto/. Accessed 2026-09-10.
Sources
- Consumer Financial Protection Bureau — Ask CFPB — Consumer Financial Protection Bureau — consumerfinance.gov
- FRED series TERMCBAUTO48NS — 48-month new auto loan rate — Federal Reserve Bank of St. Louis / Federal Reserve Board — fred.stlouisfed.org
- Federal Reserve Statistical Release G.19, Consumer Credit — Board of Governors of the Federal Reserve System — federalreserve.gov
Benchmarks are national averages from the publishers above, not offers. See our methodology.
Not financial advice. LoanMatchers is not a lender. Rates and terms vary by lender and creditworthiness. This page provides general educational information, not financial advice — consult a qualified professional before making financial decisions.
By the LoanMatchers Editorial Team. Last updated 2026-09-10. Educational information only — not financial advice.