Creditworthiness remains the single most significant factor in determining a borrower's specific APR. Data from April 2026 illustrates a nearly between the highest and lowest credit tiers for new vehicles. Credit Tier Credit Score Range Average New Car APR Average Used Car APR Super Prime 4.66% 7.70% Prime 6.27% 9.98% Nonprime 9.57% 14.49% Subprime 13.17% 19.42% Deep Subprime 16.01% 21.85% (Source: Compiled from Bankrate , US News , and CNBC ) 2. Macroeconomic and Policy Drivers
Used car loans consistently carry higher interest rates than new car loans, largely due to the increased risk of depreciation and mechanical failure associated with older collateral. car buying interest rates
The stabilization of auto loan rates is closely linked to broader economic indicators and central bank activities. Macroeconomic and Policy Drivers Used car loans consistently
The Determinants of Auto Loan Interest Rates in 2026: An Analysis of Market Trends and Borrower Profiles and CNBC ) 2.
: The average APR for a 60-month loan is approximately 7.02% .