Best Auto Loan Rates in Michigan: TOP 3
Below are the top 3 auto loan rates available to residents in the state of Michigan. After researching the rate pages of dozens of different banks and credit unions serving people in the state of Michigan we’ve published the auto loan rates with the lowest APR’s as well as those without any sort of hidden fees or “catch(es).” Because interest rates vary depending on the type of car (car/truck/van/etc), condition (new/used/etc) and the term (36 month/48 month/60 month/etc) we decided to list the rates which are beating the national averages by the highest margins.
The products listed below can apply to either new car loans and used car loans. Also, some of the products we’ve listed may only apply to certain categories of loans such as bad credit auto loans, bankruptcy auto loans, auto refinance loans. They may also come with predefined durations such as 36 month new car loan, 48 month new car loan, 60 month new car loan, 72 month new car loan, 36 month used car loan, 48 month used car loan, etc. Make sure you visit the bank or credit union’s websites for further specifics. The information provided below is time-sensitive in nature. Please refer to the date of this article for accuracy. Click on BankVibe.com’s Auto Loan Rates for recent offers.
Top 3 Auto Loan Rates in Michigan:
- National City Bank (PNC Bank) has new auto loan rates on 48 month terms available in Detroit, Michigan going for 3.94% APR. National City Bank has branches throughout Michigan and can accept funds from consumers in several states across the country. National City Bank is now apart of PNC Bank and is federally insured by the FDIC. Note: There is a $150 fee associated with this product.
- Pentagon Federal Credit Union (PenFed) has new auto loan rates on 48 month terms going for 3.99% APR. PFCU has branches throughout the country and can accept local funds. They are not-for-profit, member-owned institution and are federally insured by the NCUA.
- Credit Union One has a 36 month used new loan with an interest rate of 3.99% available in Detroit, Michigan. They have several locations throughout the Midwest as well. They are a member-owned institution. They accept local deposits and are federally insured by the NCUA. Note: 90% loan-to-value required.
If you live in the state of Michigan and know of a local auto loan rate that is better than the ones listed above, please share by leaving a comment. To get a better idea of rates in your area you may also want to scroll through the best auto loan rates in Ohio.
