Car loan rates by credit score, and where the market sits today.
Every figure here comes from a published source, named and dated next to the number. Gas is checked each morning against the U.S. Energy Information Administration weekly average. Loan rates come from Experian, used car prices from Cox Automotive and its Manheim index, and new car prices from Kelley Blue Book. We update each one when its source publishes a new period.
Key figures
- Average new car loan rate
- 6.35% (Experian, Q2 2026)
- Average used car loan rate
- 11.19% (Experian, Q2 2026)
- Best credit (781 to 850)
- 4.41% new, 6.29% used (Experian, Q2 2026)
- Good credit (661 to 780)
- 6.15% new, 8.81% used (Experian, Q2 2026)
- Average refinance rate
- 7.97%, saving $83 a month on average (Experian, Q2 2026)
- New car trade-ins that were underwater
- 29.6%, by $6,884 on average (Edmunds, Q2 2026)
- Manheim used vehicle value index
- 205.9, down 1.1% from the month before (Cox Automotive, September 2026)
- Average new car price paid
- $50,089 (Kelley Blue Book, August 2026)
- Regular gas, U.S. average
- $4.28 a gallon (EIA, week of Oct 19, 2026)
Sources and links are listed at the bottom of this page. Download the rates by credit score as CSV.
Average car loan rates by credit score
Across every credit tier, the average loan rate was 6.35% on a new car and 11.19% on a used one in Q2 2026. Your own score moves that number more than anything else you control.
| Credit tier | Score range | New car APR | Used car APR |
|---|---|---|---|
| Super prime | 781 to 850 | 4.41% | 6.29% |
| Prime | 661 to 780 | 6.15% | 8.81% |
| Near prime | 601 to 660 | 9.71% | 13.93% |
| Subprime | 501 to 600 | 13.52% | 19.10% |
| Deep subprime | 300 to 500 | 16.11% | 21.62% |
Source: Experian, State of the Automotive Finance Market, Q2 2026, published Aug 27, 2026. Scores are VantageScore 4.0. See the figures at Experian · Download as CSV
What the spread costs in real money: on a $30,000 new car loan over 60 months, the average super prime rate works out to about $558 a month, while the average deep subprime rate works out to about $731. Over the full loan that is roughly $10,394 more in interest for the same car.
What refinancing is saving people right now
In Q2 2026, drivers who refinanced cut their rate from an average of 10.40% to 7.97% and lowered their payment by an average of $83 a month, according to Experian. Refinancing tends to pay off most when your credit has improved since you bought the car, or when you accepted a high dealer rate to close the deal.
Want to know if that applies to you? The auto refinance calculator runs your balance, rate and payment against the average rate for your credit tier and tells you whether the savings are worth the paperwork.
How many drivers owe more than the car is worth
In Edmunds data for Q2 2026, 29.6% of trade-ins toward new cars were underwater, by an average of $6,884, and buyers who rolled negative equity into the new loan averaged a monthly payment of $944.
The negative equity calculator shows how far underwater your own loan is and when you break even, and the GAP insurance calculator shows whether that gap is worth insuring.
Used and new car prices
Wholesale used car prices, the ones dealers pay at auction, are a good early read on what your trade-in is worth. The Manheim Used Vehicle Value Index was 205.9 in September 2026, down 1.1% from the month before and 0.6% below a year earlier. Falling wholesale values usually show up in instant offers within weeks.
On the new side, the average transaction price was $50,089 in August 2026, up 1.9% from a year earlier, per Kelley Blue Book.
Thinking about cashing out? The sell or keep calculator weighs your equity and upcoming repairs. Shopping for the next car? The lease vs buy calculator compares total cost both ways, and the lease buyout calculator checks whether your current lease is worth buying.
Car loan rate questions
What is the average car loan rate right now?
In Q2 2026, the average car loan rate was 6.35% for a new car and 11.19% for a used car, according to Experian's State of the Automotive Finance Market. Your credit score moves your own rate more than anything else, so check your tier in the table on this page.
What car loan rate can I get with a 700 credit score?
A 700 score falls in Experian's prime tier (661 to 780). In Q2 2026, prime borrowers averaged 6.15% on a new car and 8.81% on a used one. Lenders also weigh the term, the down payment and your income, so individual offers vary.
What credit score gets the best car loan rate?
Experian's best tier, super prime, covers scores of 781 to 850 (VantageScore 4.0). In Q2 2026 those borrowers averaged 4.41% on new cars and 6.29% on used cars.
What is the average auto refinance rate?
Experian puts the average refinance rate at 7.97% in Q2 2026, down from an average of 10.40% on the loans being replaced. That lowered payments by about $83 a month on average.
How often are these figures updated?
Experian publishes a new quarter about eight weeks after the quarter ends, and we update this page when it does. The Manheim used vehicle index and Kelley Blue Book prices come out monthly. The gas price is the U.S. Energy Information Administration weekly average, checked every morning.
How to cite this page
MotorJudge, "Car loan rates by credit score," https://motorjudge.com/market-pulse, updated October 21, 2026. Loan rate figures: Experian, State of the Automotive Finance Market, Q2 2026.
Please credit the original publisher of each figure as well. Spotted an out-of-date number? Email hello@motorjudge.com.
Sources
- Experian, State of the Automotive Finance Market: rates by credit score, Q2 2026
- Experian: refinancing savings, Q2 2026
- Edmunds: negative equity on trade-ins, Q2 2026
- Cox Automotive, Manheim Used Vehicle Value Index, September 2026
- Kelley Blue Book average transaction price, August 2026
- U.S. Energy Information Administration, weekly U.S. regular gasoline price, week of Oct 19, 2026