Florida Auto Loan Rates – This Week’s Lowest APR’s

We’ve seen several noteworthy auto loan rates come out of Florida lately from both banks and credit unions serving the region. Below we highlighted the institutions offering the lowest APR’s for their auto loan products. All of the institutions mentioned are either based in Florida or have branch locations in Florida. The rates we’ve highlighted come in the form of 36 month new car loans, however, the institutions may offer similar rates for different terms and/or for used car and truck loans as well. Generally speaking auto loans come in 36 month, 48 month, 60 month or 72 month terms. The current national averages for 36 month auto loans, 48 month auto loans and 72 month auto loans sit at 5.80% APR, 5.88% APR and 3.78% APR, respectively.

Keep in mind that by obtaining financing before entering a dealership you will essentially be treated as a cash buyer. This could greatly increase your leverage in the negotiation process. Also a car loan through a bank or credit union will have a fixed rate for the duration of the loan.

Lowest Auto Loan Rates in Florida:

(Rates accurate as of 9/2010. Visit the bank or credit union listed for updated rates and information.)

- Navy Federal Credit Union (Pensacola, FL) has a 36 month auto loan going for 1.99% APR. NFCU has had this fantastic auto loan promotion going on for most of the summer. We recently publicized this offer in our post promoting Miami, Florida’s auto loan rates.

- Tyndall Federal Credit Union (Tyndall, FL) has a 36 month auto loan going for 2.740% APR.

- 1st Credit Union of Gainsville (Gainsville, FL) has a 36 month auto loan going for 2.75% APR.

- Bank of America (Tallahassee, FL) has a 36 month auto loan going for 2.99% APR. To learn more about Bank of America’s auto loan rates visit the previous link.

If you live in Florida and know of a better auto loan rate going on through your local financial institution, please share by leavinga  comment.

Miami, FL: Low Auto Loan Rates and Special Offers!

If you happen to reside in Miami, Florida and are in the market for a new or used auto loan then you have a couple sweet offers available for you to take advantage of. Thanks to BankVibe.com reader Stephan for tipping us off on the first one, although we already made note of this promotion when covering the lowest auto loan rates in Louisiana. For a few months now, Navy Federal Credit Union has had an auto loan promotion for new cars and trucks which demands only 1.99% APR for terms up to 36 months. This rate demolishes the current national average which sits at around 6.10% APR for equal terms.

NFCU has branches throughout the southeast as well as a few locations in the mid and southwest. NFCU is a somewhat exclusive credit union though and if you dont have family members whom have served in the Navy you may be excluded for membership. If you reside in Miami, Florida and are unable to join NFCU to take advantage of their auto loan offer, below are some other noteworthy auto loan rates available to you…

Lowest Auto Loan Rates in Miami, FL:

1) NFCU – 1.99% APR (depending on credit history) on new and used autos with terms up to 36 months.

2) Bank of America (National Association) – 3.06% APR (depending on credit history) on new and used autos with terms up to 36 months.

3) First Florida Credit Union (Miami, FL) – 3.24% APR (depending on credit history) on new and used autos with terms up to 36 months.

Like all bank rates, these are time sensitive in nature, please refer to the date of this article for accuracy. If you live in the Miami, FL area and know of a better auto loan rate offered through your local bank or credit union, please share by leaving a comment!

Best Auto Loan Rates in Florida: Top 3

Below are the top 3 auto loan rates available to residents in the state of Florida. After researching the rate pages of dozens of different banks and credit unions serving people in the state of Florida 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 both 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.

Top 3 Auto Loan Rates in Florida:

• Campus USA Federal Credit Union out of Lake City, Florida is offering a 48 month auto loan for new cars and trucks with an interest rate of 3.49%. Campus USA Federal Credit Union is a not-for-profit member-owned institution. Like most credit unions, this one comes with a fairly strict eligibility checklist. They have 9 branches in Florida with the majority of them being in Tampa. This institution accepts local funds and is a member of the NCUA.
• MidFlorida Central Credit Union out of Lakeland, Florida is offering a 60 month auto loan for new cars and trucks with an interest rate of 3.99%. MidFlorida Central Credit Union is also a member-owned, not-for-profit institution serving local residents. Besides having branches in Florida they also have a few locations in Georgia (Milton and Suwanee). MCCU is federally insured by the NCUA.
• Space Coast Credit Union out of Palm Coast, Florida has has a 36 month used auto loan with an interest rate of 3.49%. SCCU has several locations throughout Florida and Georgia. They are a member-owned institution as well. They accept local deposits and are federally insured by the NCUA.

If you live in the state of Florida and know of a local auto loan rate that is better than the ones listed above, please share by leaving a comment.