Who has the best rates for car loans?

Compare the Best Auto Loan Rates

Lender Lowest Rate Terms
PenFed Credit Union Best Overall 0.99% 36 to 84 months
LightStream Best Online Auto Loan 2.49% 24 to 84 months
Bank of America Best Bank for Auto Loans 2.39% 12 to 75 months
Consumers Credit Union Best Credit Union for Auto Loans 2.49% 0 to 84 months

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Beside this, which bank has lowest car loan rates?

Car Loan Interest Rate Comparison for All Banks, Lowest EMI, Best Rates in India

Bank Car Loan Interest Rates
HDFC Bank Car Loan Rates ? Compare 7.95% Fixed
SBI Car Loan Rates ? Compare 7.50% Floating
ICICI Bank Car Loan Rates ? Compare 7.90% Fixed
Axis Bank ? Compare 8.70% Fixed
Also know, which bank is best for used car loan? Used Car Loan Interest Rates Comparison, Lowest EMI May 2021, Best Rates
Bank Car Loan Interest Rates Lowest EMI per lakh for Max Tenure
HDFC Bank Car Loan Rates 7.29% Fixed 7 years
SBI Car Loan Rates 9.50% Floating 5 years
ICICI Bank Car Loan Rates 12.00% Fixed 5 years
Kotak Bank Car Loan Rates 6.50% Fixed 5 years

In respect to this, what is a good used car loan rate?


Credit score category Average loan APR for new car Average loan APR for used car
Super Prime (781 to 850) 2.65% 3.80%

Is it better to get an auto loan from a bank or dealership?

While it may seem more convenient to shop for a car and secure financing all in one place at the dealership, getting a car loan from a bank may be a better choice. … A loan through a dealer also may end up being more expensive because of interest rate markups.

What is the cheapest way to get a car loan?

What’s the Cheapest Way to Finance Buying a Car?

  1. Banks are generally the cheapest lenders. …
  2. Generally, dealership interest rates run higher than a bank’s interest rates because they are the middle man. …
  3. But, dealerships do run great deals from time to time. …
  4. Dealer interest rates can also be negotiable.

How can I get a low interest rate on a used car?

Compare Auto Loan Rates

  1. Fill out a short and secure two minute offer form.
  2. Get matched with lenders and get up to 4 offers.
  3. Receive an online certificate or a check within 24 hours.
  4. Use your check to buy the car you want or use it to refinance your current loan.

Can I get finance for a used car?

Yes, you can get a car loan to purchase to a used or a pre-owned car. However, you should check with lender about the interest rate and features of a personal loan as well, is Arora’s advice. … Pre-owned car loan and personal loan interest rates offered by a few leading banks and financial services firms.

How old of a used car can you finance?

10 years

Is 2.9 A good car loan rate?

Dealerships will often advertise very good interest rates on new cars: 2.9%, 1.9%, sometimes even 0%. … Buyers with credit scores in the low 700s can still get a good interest rate but may not qualify for the best promotions.

What is the best way to get a used car loan?

You can overcome higher rates by shopping around for your best used car loan rate and getting preapproved with lenders of your choice. Even if you’re buying from a dealership, you could use those offers to negotiate a lower rate. If the dealer can beat your preapproved offers, great!

Is 0 car financing a good deal?

A zero percent deal can save you thousands of dollars in interest payments over the life of your car loan, which lowers the total cost of buying the vehicle. Even if the interest rate on the loan you get is only a few percent, when you finance at zero percent, you’ll save a good deal of money.

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