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 2024) | Lowest seen |
|---|---|---|
| PenFed Credit Union | 5.85% | 5.44% |
| Bank of America | 6.08% | 5.94% |
| MyAutoLoan | 7.91% | 6.99% |
| Truist | 8.03% | 7.69% |
| Lender | Avg advertised APR (May 2024) | Lowest seen |
|---|---|---|
| Bank of America | 6.48% | 6.34% |
| PenFed Credit Union | 6.80% | 6.49% |
| Truist | 8.03% | 7.69% |
| MyAutoLoan | 8.16% | 7.24% |
| Lender | Avg advertised APR (May 2024) | Lowest seen |
|---|---|---|
| MyAutoLoan | 5.83% | 5.49% |
| Bank of America | 7.58% | 7.44% |
| Truist | 8.28% | 7.94% |
| Lender | Avg advertised APR (May 2024) | Lowest seen |
|---|---|---|
| MyAutoLoan | 6.25% | 5.01% |
| Bank of America | 7.58% | 7.44% |
| Truist | 8.28% | 7.94% |
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 2024 - https://www.autoloanrate.com/rate-index/may-2024
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.