Average advertised APRs across the U.S. lenders we track. Advertised rates assume top-tier credit, so treat them as each lender's floor. Methodology.
December 2019: New car loans averaged 4.14% APR across 5 lenders, down 0.07 points from November 2019, and the lowest advertised rate was 2.74% from Bank of America. Used car loans averaged 4.40% APR across 5 lenders, down 0.07 points from November 2019, and the lowest advertised rate was 3.04% from Bank of America. Refinance loans averaged 4.28% APR across 3 lenders, down 0.12 points from November 2019, and the lowest advertised rate was 3.74% from Bank of America. Lease buyout loans averaged 5.04% APR across 2 lenders, down 0.03 points from November 2019, and the lowest advertised rate was 3.84% from Bank of America.
| Lender | Avg advertised APR (December 2019) | Lowest seen |
|---|---|---|
| Bank of America | 2.93% | 2.74% |
| PenFed Credit Union | 3.69% | 2.99% |
| U.S. Bank | 4.28% | 4.09% |
| Truist | 4.64% | 3.99% |
| Chase | 5.15% | 4.99% |
| Lender | Avg advertised APR (December 2019) | Lowest seen |
|---|---|---|
| Bank of America | 3.23% | 3.04% |
| PenFed Credit Union | 4.24% | 3.99% |
| U.S. Bank | 4.28% | 4.09% |
| Truist | 4.64% | 3.99% |
| Chase | 5.61% | 5.44% |
| Lender | Avg advertised APR (December 2019) | Lowest seen |
|---|---|---|
| Bank of America | 3.93% | 3.74% |
| U.S. Bank | 4.28% | 4.09% |
| Truist | 4.64% | 3.99% |
| Lender | Avg advertised APR (December 2019) | Lowest seen |
|---|---|---|
| Bank of America | 4.03% | 3.84% |
| Truist | 6.05% | 4.99% |
This data is published under CC BY 4.0: free to use in articles, research, and reports with attribution and a link. Suggested citation:
Source: AutoLoanRate.com Auto Loan Rate Index, December 2019, https://www.autoloanrate.com/rate-index/december-2019
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Every figure on this page is an average of advertised APRs - the rates lenders publish for their best-qualified borrowers on the shortest common terms. Your own offer depends on credit profile, term length, vehicle age, and state. Two practical uses:
Full collection details, lender coverage, and revision policy: methodology.