It’s been a while since we’ve covered some of the lowest auto loan rates across the country offered by local banks and credit unions, however, after being tipped off on several noteworthy offers out of Texas we felt we were past due on compiling a list of top rates. If you happen to live in Texas and are looking looking to finance a new car or truck or are simply looking to refinance an existing auto loan you may want to review some of the advertised rates from institutions we’ve gathered and highlighted below.
Texas, in general, is a decent state to find notable interest rates from local banks and credit unions simply because of the competition. Texas hosts some of the best rates from geographically exclusive, locally based, credit unions and community banks in the country. And these institutions are generally the best providers of low APR’s on car loans.
Why obtain auto financing through a bank or credit union?
The main strategy behind this, is that when you enter a dealership with an approved loan, you are essentially treated as a cash buyer. This tends to give you greater leverage in the negotiation process.
Lowest Auto Loan Rates in Texas (December 2011):
(Check with the individual institution to see if you qualify)
- Air Force Federal Credit Union (San Antonio, TX) has a 36 month new car loan featuring an APR of 1.75%.
- Navy Federal Credit Union (Portland, TX) has a 36 month new car loan featuring an APR of 1.79%.
- Amplify Federal Credit Union (Austin, TX) has a 36 month new car loan featuring an APR of 1.89%.
- Austin Telco Federal Credit Union (Round Rock, TX) has a 36 month new car loan featuring an APR of 1.89%.
- Synergy Federal Credit Union (Texas City, TX) has a 36 month new car loan featuring an APR of 1.90%.
- First Community Credit Union of Houston has a 36 month new car loan featuring an APR of 1.99%.
- Firstmark Credit Union (San Antonio, TX) has a 36 month new car loan featuring an APR of 1.99%.
If you live in Texas and have recently obtained a new car loan or refinanced an existing auto loan and know of a better locally based APR, please share by leaving a comment!