Bank Car Loan Rates -

Interest rates are influenced by the Federal Reserve , which recently held the federal funds rate at . Credit Category New Car APR Range Used Car APR Range Excellent (750+) 4.0% – 5.5% 4.5% – 6.0% Good (700-749) 5.5% – 7.0% 6.5% – 8.5% Fair (650-699) 7.0% – 9.0% 10.0% – 13.0% Poor ( 9.0% – 16.0%+ 15.0% – 21.0%+ Data based on typical industry ranges for early 2026. 🔑 Key Factors That Lower Your Rate

Shorter terms (e.g., 36–48 months) generally offer lower rates than longer terms (72–84 months). bank car loan rates

AI responses may include mistakes. For financial advice, consult a professional. Learn more Auto Loan Rates from Bank of America Interest rates are influenced by the Federal Reserve

Higher scores significantly reduce your APR. For example, "Prime" borrowers (661–780) typically see rates near 6.27% , while "Deep Subprime" ( 16% . AI responses may include mistakes

Secure a rate from a bank or credit union like Navy Federal or PenFed before visiting a dealership to use as a bargaining chip.

Some institutions, like Bank of America , offer loyalty discounts (up to 0.50%) for existing customers. 💡 Smart Borrowing Strategies