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 2021: New car loans averaged 2.69% APR across 4 lenders, up 0.02 points from June 2021, and the lowest advertised rate was 1.79% from PenFed Credit Union. Used car loans averaged 2.81% APR across 4 lenders, up 0.01 points from June 2021, and the lowest advertised rate was 2.39% from PenFed Credit Union. Refinance loans averaged 3.10% APR across 3 lenders, up 0.02 points from June 2021, and the lowest advertised rate was 2.49% from Truist. Lease buyout loans averaged 3.86% APR across 2 lenders, up 0.02 points from June 2021, and the lowest advertised rate was 3.39% from Bank of America.
| Lender | Avg advertised APR (July 2021) | Lowest seen |
|---|---|---|
| Bank of America | 2.39% | 2.39% |
| PenFed Credit Union | 2.43% | 1.79% |
| U.S. Bank | 2.59% | 2.59% |
| Truist | 3.33% | 2.49% |
| Lender | Avg advertised APR (July 2021) | Lowest seen |
|---|---|---|
| U.S. Bank | 2.59% | 2.59% |
| Bank of America | 2.59% | 2.59% |
| PenFed Credit Union | 2.74% | 2.39% |
| Truist | 3.33% | 2.49% |
| Lender | Avg advertised APR (July 2021) | Lowest seen |
|---|---|---|
| U.S. Bank | 2.59% | 2.59% |
| Truist | 3.33% | 2.49% |
| Bank of America | 3.39% | 3.39% |
| Lender | Avg advertised APR (July 2021) | Lowest seen |
|---|---|---|
| Bank of America | 3.39% | 3.39% |
| 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, July 2021, https://www.autoloanrate.com/rate-index/july-2021
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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.