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.
January 2022: New car loans averaged 2.68% APR across 4 lenders, up 0.05 points from December 2021, and the lowest advertised rate was 1.79% from PenFed Credit Union. Used car loans averaged 2.81% APR across 4 lenders, up 0.05 points from December 2021, and the lowest advertised rate was 2.34% from U.S. Bank. Refinance loans averaged 3.11% APR across 3 lenders, up 0.08 points from December 2021, and the lowest advertised rate was 2.34% from U.S. Bank. Lease buyout loans averaged 3.89% APR across 2 lenders, up 0.10 points from December 2021, and the lowest advertised rate was 3.29% from Bank of America.
| Lender | Avg advertised APR (January 2022) | Lowest seen |
|---|---|---|
| Bank of America | 2.38% | 2.29% |
| PenFed Credit Union | 2.43% | 1.79% |
| U.S. Bank | 2.57% | 2.34% |
| Truist | 3.33% | 2.49% |
| Lender | Avg advertised APR (January 2022) | Lowest seen |
|---|---|---|
| U.S. Bank | 2.57% | 2.34% |
| Bank of America | 2.58% | 2.49% |
| PenFed Credit Union | 2.74% | 2.39% |
| Truist | 3.33% | 2.49% |
| Lender | Avg advertised APR (January 2022) | Lowest seen |
|---|---|---|
| U.S. Bank | 2.56% | 2.34% |
| Truist | 3.33% | 2.49% |
| Bank of America | 3.45% | 3.29% |
| Lender | Avg advertised APR (January 2022) | Lowest seen |
|---|---|---|
| Bank of America | 3.45% | 3.29% |
| Truist | 4.33% | 3.49% |
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, January 2022, https://www.autoloanrate.com/rate-index/january-2022
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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.