Best 5-Year Detroit Auto Loan Rates
Auto loans are great for helping the average person fit a bit purchase like a new car into a modest budget. Even so, you can easily overpay for a car if your interest rate is too high. So how do you know if you’re getting a good deal on your car loan? It’s best if you research current rates available in your area before applying for a loan and narrow down which lenders have the best Detroit auto loan rates.
The following are the best rates currently available in the city for a term length of 60 months (5 years).
Best Detroit Auto Loan Rates for a 5-Year Term
- Pentagon Federal Credit Union: 2.49% APR
- Credit Union ONE: 3.49% APR
- Fifth Third Bank: 3.89% APR
- Up2drive – a division of BMW Bank: 3.99% APR
- Dearborn Financial: 4.64% APR
These rates are based on a principal loan amount of $10,000 and are accurate as of May 16, 2011. Rates are subject to change at any time in the future and you may be offered a different rate based on your credit.
