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.
July 2018: New car loans averaged 3.87% APR across 7 lenders, and the lowest advertised rate was 2.49% from PenFed Credit Union. Used car loans averaged 4.21% APR across 7 lenders, and the lowest advertised rate was 3.09% from Truist. Refinance loans averaged 4.20% APR across 4 lenders, and the lowest advertised rate was 3.09% from Truist. Lease buyout loans averaged 4.13% APR across 3 lenders, and the lowest advertised rate was 3.39% from Truist.
| Lender | Avg advertised APR (July 2018) | Lowest seen |
|---|---|---|
| USAA | 2.79% | 2.79% |
| PenFed Credit Union | 3.44% | 2.49% |
| Truist | 3.57% | 3.09% |
| Bank of America | 3.61% | 3.44% |
| Wells Fargo | 3.88% | 3.88% |
| U.S. Bank | 4.56% | 4.56% |
| Chase | 5.24% | 5.14% |
| Lender | Avg advertised APR (July 2018) | Lowest seen |
|---|---|---|
| USAA | 3.59% | 3.59% |
| Bank of America | 3.81% | 3.64% |
| Truist | 3.82% | 3.09% |
| PenFed Credit Union | 3.93% | 3.49% |
| Wells Fargo | 4.14% | 4.14% |
| U.S. Bank | 4.56% | 4.56% |
| Chase | 5.62% | 5.54% |
| Lender | Avg advertised APR (July 2018) | Lowest seen |
|---|---|---|
| Bank of America | 3.81% | 3.64% |
| Truist | 3.81% | 3.09% |
| U.S. Bank | 4.56% | 4.56% |
| Wells Fargo | 4.62% | 4.62% |
| Lender | Avg advertised APR (July 2018) | Lowest seen |
|---|---|---|
| Bank of America | 3.81% | 3.64% |
| Truist | 4.23% | 3.39% |
| Wells Fargo | 4.34% | 4.34% |
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, July 2018, https://www.autoloanrate.com/rate-index/july-2018
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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.