12-month trailing trend

Auto loan rate history.

How rates have moved across new car, used car, and refinance loans over the past 12 months. Use the trend to time your borrowing.

New car
5.51%
From 7.13% 12 months ago -1.62 pts
Used car
5.85%
From 7.25% 12 months ago -1.40 pts
Refinance
7.24%
From 6.50% 12 months ago +0.74 pts

Monthly averages by category

Month New car Used car Refinance
Aug 2026 5.51% 5.85% 7.24%
Jul 2026 5.52% 5.86% 7.24%
Jun 2026 5.30% 5.67% 6.49%
May 2026 7.07% 7.18% 6.39%
Apr 2026 6.97% 7.08% 6.23%
Mar 2026 6.91% 7.02% 6.05%
Feb 2026 6.83% 6.94% 6.16%
Jan 2026 6.76% 6.87% 6.10%
Dec 2025 6.69% 6.80% 6.02%
Nov 2025 6.69% 6.80% 6.02%
Oct 2025 6.83% 6.95% 6.10%
Sep 2025 7.13% 7.25% 6.50%

Methodology: each figure is the monthly average of advertised APRs collected directly from the lender websites we track - full methodology. For citable monthly reports with per-lender breakdowns, see the Rate Index. Advertised rates assume top-tier credit; your rate depends on credit profile, term, and vehicle.

What's been driving auto loan rates

Auto loan APRs don't move in isolation. They track the cost of capital for lenders, which is set by:

How to use rate history when shopping

Two practical takeaways from the trend:

  1. Don't try to time the trough. If today's rate is meaningfully better than what you're currently paying, refinance now. The savings between now and the hypothetical bottom-of-cycle are usually smaller than the savings you'd lose by waiting.
  2. Lock when the trend reverses. If rates have been falling for several months and start to flatten, the cycle's likely turning. That's a good moment to lock in a purchase or refi rate.