If you’re shopping for an auto loan, you can fill out a single form with LendingTree and receive up to five auto loan offers from top lenders.
| Lenders | Starting APRs | Loan terms | Loan amounts | Best for… |
|---|---|---|---|---|
 | 4.50% | 12-84 months | From $12,000 | Short-term loans |
 | 4.54% | 36 to 96 months | Not specified | Those with military connections |
 | 5.24% | 36-84 months | Up to $100,000 | Using a car-buying service |
 | 5.94% *with autopay | 36-84 months | Up to $250,000 | Bad-credit borrowers |
 | 5.74% | 36 to 84 months | Up to $500,000 | Specialty vehicle loans |
 | 5.99% | 36-72 months | From $4,000 | Prime and subprime rates |
 | 6.29% | 48-72 months | From $7,500 | Those who prefer large banks |
 | 6.34% | 12-72 months | $7,500-$75,000 | Private-party auto loans |
 | 6.85% | 36-72 months | Up to $80,000 | An online experience |
 | 8.99%* with autopay and excellent credit | 24-84 months | $5,000-$100,000 | Unsecured auto loans |
 | Not disclosed | 12-84 months | Starting at $4,000 | Dealership purchases |
Read more about how we chose the best auto loans.
We examined closed LendingTree auto loans from H1 2022. We wanted to know: 1) which lenders consumers chose most often, and 2) which ones offered the lowest average APR. We also looked at the advertised starting car loan rates of large, national lenders to compare.
To find the best rates for those with military connections, we looked at rates offered by USAA Bank, Navy Federal Credit Union, Pentagon Federal Credit Union and Randolph-Brooks Federal Credit Union, and chose the one with the lowest advertised APR for a traditional new car loan not including any other discounts that may be available, such as breaks for using a car-buying service.
*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 5.99% APR with a term of 3 years would result in 36 monthly payments of $304.17. © 2023 Truist Financial Corporation. Truist, LightStream and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.
The best time to buy a car is typically October through December. During this time of year, car dealers are more likely to offer discounts and special promotions to sell remaining inventory before the end of the year. Since many shoppers buy new cars in this window, there are also a higher number of trade-in vehicles available for purchase.
Whether you should get a new or used car depends mostly on how much you can afford to borrow. While new cars tend to be more expensive than used ones, they typically come with better financing options and require less maintenance. On the other hand, used cars are more affordable, and have less depreciation and higher resale value.
Getting a car loan with bad credit can be challenging but not impossible. Some lenders take into consideration factors other than your credit score — like your income and employment — when choosing whether to offer you a loan. However, you’ll likely pay higher interest rates than car buyers with good credit.
Yes, you can pay off your car loan early, though some lenders may charge you a prepayment penalty. Since lenders make money off the interest you’re paying on your loan, they sometimes charge this fee to recoup their financial losses.
Yes, if you want to pay off your car faster or you need lower monthly payments, you can refinance your car loan. You may have to pay a fee to change the lienholder on your car title, depending on the laws in your state.