Loan Interest Rates

supersix

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Jun 12, 2023
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Which bank or credit union currently offers the most competitive auto loan interest rates? My local credit union is quoting 6.59%, but I'm on the hunt for the best deal out there.

USAA is offering 5.74% on 60 months.
 
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I got pre-approved at 5.59% at Penfed. Emailed the Penfed pre-approval to my Lexus salesman, and they got me 4.49% at a different local credit union (First South Financial Credit Union).

Pretty sure the dealership gets compensation from banks, so its in their financial interest to find you the lowest rate. They also have access to auto lenders consumers don’t. I tried calling Ally, and they said only a dealer can access them
 

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