← All Reviews

Auto Loans

Best Auto Loan Rates of March 2026

By Michael Park|Updated March 2026|12 min read

Getting pre-approved for an auto loan before you step onto a dealer lot is one of the smartest financial moves you can make. Dealership financing markups cost the average buyer 1-3% in unnecessary interest. On a $35,000 loan over 60 months, a 2% rate difference costs over $1,800 in extra interest. We tracked auto loan rates from 25+ lenders to find the best deals for new purchases, used cars, and refinancing.

Credit unions consistently offer the best auto loan rates -- often 0.5-1.5% lower than big banks. But online lenders and some national banks are increasingly competitive. Here are our top picks across every borrower scenario.

Our methodology

We compared APR ranges for new and used vehicles across credit score tiers, evaluated loan terms and flexibility, assessed fees and prepayment policies, and factored in additional benefits like rate matching and refinancing options. Rates shown are for well-qualified borrowers and are current as of March 2026.

1

PenFed Credit Union

4.8
Best Overall Rates

APR

4.24%-17.99%

Min. Credit Score

620+

Loan Amounts

Up to $150,000

Terms

36-84 months

  • Consistently among the lowest auto loan rates in the country
  • New and used vehicle financing with competitive rates on both
  • No application fee or prepayment penalty
  • Financing for cars up to 7 years old or 100,000 miles
  • Anyone can join PenFed -- membership is open to all
2

Capital One Auto Finance

4.5
Best for Pre-Qualification

APR

5.24%-18.99%

Min. Credit Score

600+

Loan Amounts

$4,000-$100,000

Terms

36-72 months

  • Pre-qualify with no impact on credit score
  • Auto Navigator tool shows monthly payments on specific cars at dealerships
  • Accepted at over 12,000 participating dealerships
  • No application fee and no down payment required
  • Refinancing also available for existing auto loans
3

Consumers Credit Union

4.6
Best for Used Cars

APR

4.49%-18.49%

Min. Credit Score

640+

Loan Amounts

Up to $250,000

Terms

12-84 months

  • Some of the lowest rates available for used vehicle purchases
  • Will finance vehicles up to 10 years old
  • No application fees, no prepayment penalties
  • Rate discounts for autopay enrollment
  • Membership open to anyone who joins a qualifying organization (free to join)
4

myAutoloan.com

4.3
Best Rate Marketplace

APR

3.99%-21.00%

Min. Credit Score

580+

Loan Amounts

$8,000-$100,000

Terms

24-84 months

  • Compare up to 4 offers from different lenders with one application
  • Accepts credit scores as low as 580
  • New, used, and refinancing all available
  • Offers from banks, credit unions, and finance companies
  • Most applicants receive offers within minutes

The bottom line

For the lowest rates available, PenFed Credit Union consistently leads the market for both new and used vehicles. Their open membership policy means anyone can join and access these rates. If you want to compare multiple offers without rate shopping across different lenders, myAutoloan.com and Capital One's Auto Navigator make the process painless.

Regardless of which lender you choose, always get pre-approved before visiting a dealership. Walk in knowing your rate, and let the dealer try to beat it. If they can, great -- you win. If they cannot, you already have a great rate locked in. This single step saves the average buyer $1,000-2,000 over the life of their auto loan.