Average advertised APRs across the U.S. lenders we track. Advertised rates assume top-tier credit - treat them as each lender's floor. Methodology.
| Lender | Avg advertised APR (May 2023) | Lowest seen |
|---|---|---|
| PenFed Credit Union | 5.60% | 5.19% |
| MyAutoLoan | 5.78% | 5.29% |
| Bank of America | 5.90% | 5.79% |
| U.S. Bank | 7.05% | 6.96% |
| Truist | 8.63% | 7.99% |
| Lender | Avg advertised APR (May 2023) | Lowest seen |
|---|---|---|
| MyAutoLoan | 6.03% | 5.54% |
| Bank of America | 6.10% | 5.99% |
| PenFed Credit Union | 6.31% | 6.04% |
| U.S. Bank | 7.05% | 6.96% |
| Truist | 8.63% | 7.99% |
| Lender | Avg advertised APR (May 2023) | Lowest seen |
|---|---|---|
| MyAutoLoan | 4.57% | 4.01% |
| Bank of America | 6.90% | 6.79% |
| U.S. Bank | 7.48% | 7.39% |
| Truist | 8.88% | 8.24% |
| Lender | Avg advertised APR (May 2023) | Lowest seen |
|---|---|---|
| MyAutoLoan | 5.69% | 5.49% |
| Bank of America | 6.70% | 6.59% |
| Truist | 8.88% | 8.24% |
This data is free to reference in articles, research, and reports with attribution and a link. Suggested citation:
Source: AutoLoanRate.com Auto Loan Rate Index, May 2023 - https://www.autoloanrate.com/rate-index/may-2023
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.