New car vs. used — does the rate differ?

Yes. New-vehicle loans typically run 0.5-1.5% lower APR than used-vehicle loans of similar credit. Used loans are higher because depreciation is faster early in a vehicle's life, raising the lender's risk if you default.

Should I get pre-approved before going to the dealer?

Almost always. Pre-approval from a bank or credit union gives you a target the dealer has to beat. Without it, the dealer anchors you to their financing markup — which is often 1-2% above what you'd qualify for elsewhere.

What's the best loan term length?

48-60 months for most buyers. Going to 72 or 84 months lowers the monthly payment but you'll be underwater on the vehicle for years (and the rate is higher). If you can't comfortably afford a 60-month payment, buy less car.

How much should I put down?

10-20% on a new vehicle, 20%+ on a used vehicle. Anything less and you risk being underwater immediately as the car depreciates. Gap insurance helps if you put less down, but it's a cost on top of the loan.

New car vs. used — does the rate differ?

Yes. New-vehicle loans typically run 0.5-1.5% lower APR than used-vehicle loans of similar credit. Used loans are higher because depreciation is faster early in a vehicle's life, raising the lender's risk if you default.

Should I get pre-approved before going to the dealer?

Almost always. Pre-approval from a bank or credit union gives you a target the dealer has to beat. Without it, the dealer anchors you to their financing markup — which is often 1-2% above what you'd qualify for elsewhere.

What's the best loan term length?

48-60 months for most buyers. Going to 72 or 84 months lowers the monthly payment but you'll be underwater on the vehicle for years (and the rate is higher). If you can't comfortably afford a 60-month payment, buy less car.

How much should I put down?

10-20% on a new vehicle, 20%+ on a used vehicle. Anything less and you risk being underwater immediately as the car depreciates. Gap insurance helps if you put less down, but it's a cost on top of the loan.

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Last updated: May 2026How we rate

Best Auto Loans for Buying a Vehicle

Pre-approve in minutes. Negotiate from strength.

A pre-approval letter changes the conversation at the dealer. Compare auto loan offers from banks, credit unions, and online lenders before you walk in — the dealer's finance department will have to beat your number rather than anchor it.

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Alpha Lending539 reviews by Trustpilot

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Placeholder editorial review for Alpha Lending (Auto Loans). Real content lands separately.

APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Lowest APR

Theta Loans951 reviews by Trustpilot

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Placeholder editorial review for Theta Loans (Auto Loans). Real content lands separately.

APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Fast funding

Beta Financial1,363 reviews by Trustpilot

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APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Bad credit

Eta Lending1,775 reviews by Trustpilot

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APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Large loans

Gamma Bank2,187 reviews by Trustpilot

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Placeholder editorial review for Gamma Bank (Auto Loans). Real content lands separately.

APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Customer service

Epsilon Direct2,599 reviews by Trustpilot

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APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Soft credit pull

Iota Mortgage3,011 reviews by Trustpilot

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APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for No origination fee

Zeta Capital3,423 reviews by Trustpilot

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APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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More Details:

APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Repeat borrowers

Kappa Trust3,835 reviews by Trustpilot

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Placeholder editorial review for Kappa Trust (Auto Loans). Real content lands separately.

APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

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More Details:

APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Best for Branch network

Delta CU4,247 reviews by Trustpilot

Apply online in minutes

Placeholder editorial review for Delta CU (Auto Loans). Real content lands separately.

APR: 5.99%–29.99% APR
Loan amount: $1,000 to $100,000

8.4

Very good ⌄

See my rate

More Details:

APR

5.99%–29.99% APR

Loan amount

$1,000 to $100,000

Term

12–84 mo

Min credit

580+ credit

Our Top Choice

Frequently asked questions

New car vs. used — does the rate differ?
Yes. New-vehicle loans typically run 0.5-1.5% lower APR than used-vehicle loans of similar credit. Used loans are higher because depreciation is faster early in a vehicle's life, raising the lender's risk if you default.
Should I get pre-approved before going to the dealer?
Almost always. Pre-approval from a bank or credit union gives you a target the dealer has to beat. Without it, the dealer anchors you to their financing markup — which is often 1-2% above what you'd qualify for elsewhere.
What's the best loan term length?
48-60 months for most buyers. Going to 72 or 84 months lowers the monthly payment but you'll be underwater on the vehicle for years (and the rate is higher). If you can't comfortably afford a 60-month payment, buy less car.
How much should I put down?
10-20% on a new vehicle, 20%+ on a used vehicle. Anything less and you risk being underwater immediately as the car depreciates. Gap insurance helps if you put less down, but it's a cost on top of the loan.

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