Car Loan Calculator

Auto Loan Rates by Credit Score in 2026

Your interest rate is the biggest variable in the total cost of your car loan. With excellent credit (750+) on a new car, rates of 5%–6.5% are available through credit unions. Average rates for all buyers hover around 8%–9% for new and 11%–13% for used. Every 1% reduction in rate on a $30,000 loan saves about $900 over 60 months.

The True Cost Calculation

Most buyers calculate the wrong total. The real cost of a car is vehicle price plus sales tax (varies by state, typically 6%–10%) plus dealer fees plus all interest paid over the loan term. On a $35,000 vehicle in California with 9.5% sales tax, you start with a $38,325 purchase price before financing. Add dealer fees ($800–$1,500) and 60 months of interest and your true cost may exceed $45,000.

Why Credit Unions Beat Dealers

Credit unions are member-owned nonprofits — they have no incentive to mark up loan rates for profit. According to the National Credit Union Administration, credit unions average 1%–2% lower auto loan rates than banks and 2%–3% lower than dealer financing. On a $30,000 loan over 60 months, 2% lower rate saves approximately $1,900 total. For personal and student loan comparisons, see our Loan Calculator. Membership in most credit unions is easy — many allow anyone in a geographic area or affiliated employer to join.