Buying guide · rates as of November 4, 2026
With excellent credit, credit unions advertise used-car loans from about 4.79% APR, but the average used-car loan costs 11.19%. Your credit score matters most: Experian's figures run from 6.29% for scores of 781 or higher to 21.62% for 500 or lower. On a $25,000 five-year loan that is $4,202 versus $16,105 in interest.
Average APR by credit tier, with the interest you would pay on a $25,000 used-car loan over 60 months at that rate.
| Credit score | New car | Used car | Used costs more by | Interest on $25,000 |
|---|---|---|---|---|
| Super prime781–850 | 4.41% | 6.29% | +1.88 | $4,202 |
| Prime661–780 | 6.15% | 8.81% | +2.66 | $5,999 |
| Near prime601–660 | 9.71% | 13.93% | +4.22 | $9,848 |
| Subprime501–600 | 13.52% | 19.10% | +5.58 | $13,993 |
| Deep subprime300–500 | 16.11% | 21.62% | +5.51 | $16,105 |
Source: Experian, State of the Automotive Finance Market, Q2 2026 (VantageScore 4.0). Scores are VantageScore 4.0. Interest is our calculation. Average used-car loan: $27,852 over about 68 months.
The lowest rate each lender advertises for a used car, by loan length. These are for the best credit; most buyers will be offered more. A dash means the lender does not publish that term.
| Lender | Type | Up to 36 mo | 37–60 mo | 61–72 mo | 73–84 mo |
|---|---|---|---|---|---|
| PenFed Credit Union36 / 60 / 72 / 84-month rates | Credit unionmembership required | 4.79% | 5.34% | 5.39% | 6.24% |
| Navy Federal Credit Union | Credit unionmembership required | 5.09% | 5.59% | 5.69% | 7.28% |
| Digital Federal Credit Union (DCU)includes a 0.50% relationship discount | Credit unionmembership required | 5.24% | 5.24% | 5.74% | 7.24% |
| myAutoloan (lender marketplace)lowest rates recently offered by its lenders | Online marketplace | 5.24% | 5.24% | 5.94% | 10.74% |
| Consumers Credit Union (Illinois)2023–24 model years | Credit unionmembership required | 5.49% | 5.49% | 5.99% | 6.99% |
| Bank of America60-month rate | Bank | — | 5.84% | — | — |
| Chase Auto60-month example | Bank | — | 6.09% | — | — |
| Alliant Credit Union60-month rate; 9.59% for cars 10–15 years old | Credit unionmembership required | — | 6.59% | — | — |
| LightStream$10,000–24,999 loans, with AutoPay; up to 17.74% depending on credit | Online lender | 9.99% | 10.04% | 10.89% | 11.49% |
Read from each lender's own rates page on November 4, 2026; rates change often, so check the lender before you apply. Shading compares every rate in the table with the middle one. We have no paid relationship with these lenders, and any paid partner link on this site never changes the shading or order.
One lender's used-car rates by the car's model year and the loan's length, for its best-credit borrowers.
| Loan length | 2025 and newer | 2023–2024 | 2020–2022 | 2019 and older |
|---|---|---|---|---|
| Up to 60 mo | 4.99% | 5.49% | 5.99% | 8.99% |
| 61–72 mo | 5.49% | 5.99% | 6.49% | 9.49% |
| 73–84 mo | 6.49% | 6.99% | 7.49% | 10.49% |
Source: Consumers Credit Union (Illinois) rates effective 2026-10-12, without its optional rate-buydown service.
| Lender | Oldest car | Most miles | Private seller | Minimum loan |
|---|---|---|---|---|
| PenFed Credit Union | Not stated | Under 125,000 | Not stated | $15,000 for 61–72 mo; $20,000 for 73–84 mo |
| Navy Federal Credit Union | Under 20 years (older: classic rates) | Not stated | Not stated | Not stated |
| Digital Federal Credit Union (DCU) | Not stated | Not stated | Not stated | Not stated |
| myAutoloan (lender marketplace) | Varies by lender | Varies by lender | Yes (from 10.24%) | Varies by lender |
| Consumers Credit Union (Illinois) | Older cars: call for rates | Not stated | No | Not stated |
| Bank of America | 10 years | Under 125,000 | Yes, in branch or online banking | $7,500 |
| Chase Auto | Not stated | Not stated | No (Chase-network dealers only) | Not stated |
| Alliant Credit Union | 15 years (higher rate from 10) | Not stated | Not stated | Not stated |
| LightStream | No limit | No limit | Yes (+0.25%) | $5,000 |
"Not stated" means we could not find it on the lender's public pages; ask the lender.
This page is general information, not financial advice. Your rate depends on your credit, income, the car and the lender.
There is no single cut-off, and lenders rarely publish one. Experian's data show the average used-car borrower has a score of 688, and people with scores below 600 still get loans, but at around 19–22% APR. A score of 661 or more (prime) gets you near the advertised rates.
As of November 4, 2026, credit unions advertise used-car rates from about 4.79% for excellent credit on shorter loans. The average used-car loan is 11.19%, so anything under about 9% is good for most buyers.
Usually. NCUA figures put the average 48-month used-car loan at 5.53% at credit unions and 7.73% at banks. Most credit unions need you to join, which is often easy (by where you live or work, or a small donation).
Yes, but expect fewer lenders and a higher rate. Several big banks stop at 10 years old or 125,000 miles. Some credit unions lend on cars up to 15 or 20 years old at a higher rate, and some online lenders set no age or mileage limit.
It helps. A pre-approval from a bank or credit union gives you a rate to compare with the dealer's offer, so you can take whichever is lower.