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 2022: New car loans averaged 4.41% APR across 4 lenders, up 0.41 points from June 2022, and the lowest advertised rate was 3.79% from Bank of America. Used car loans averaged 4.59% APR across 4 lenders, up 0.42 points from June 2022, and the lowest advertised rate was 3.99% from Truist. Refinance loans averaged 5.11% APR across 3 lenders, up 0.28 points from June 2022, and the lowest advertised rate was 4.99% from Bank of America. Lease buyout loans averaged 5.05% APR across 2 lenders, up 0.09 points from June 2022, and the lowest advertised rate was 4.89% from Bank of America.
| Lender | Avg advertised APR (July 2022) | Lowest seen |
|---|---|---|
| Bank of America | 3.98% | 3.79% |
| Truist | 4.17% | 3.99% |
| U.S. Bank | 4.66% | 4.49% |
| PenFed Credit Union | 4.83% | 4.24% |
| Lender | Avg advertised APR (July 2022) | Lowest seen |
|---|---|---|
| Truist | 4.17% | 3.99% |
| Bank of America | 4.18% | 3.99% |
| U.S. Bank | 4.66% | 4.49% |
| PenFed Credit Union | 5.34% | 5.04% |
| Lender | Avg advertised APR (July 2022) | Lowest seen |
|---|---|---|
| Bank of America | 5.03% | 4.99% |
| U.S. Bank | 5.14% | 5.14% |
| Truist | 5.17% | 4.99% |
| Lender | Avg advertised APR (July 2022) | Lowest seen |
|---|---|---|
| Bank of America | 4.93% | 4.89% |
| Truist | 5.17% | 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, July 2022, https://www.autoloanrate.com/rate-index/july-2022
Download every month as CSV, or today's lender rates as JSON. Questions about the data? See how we collect it.
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.