Miami, Florida Best Auto Loan Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
- Location-Based Rate Tables
- Bank & Credit Union Health Safety Ratings
- Bank & Credit Union Star Ratings
- Finance Calculators
Current auto loan rates in Miami, Florida include American Airlines Federal Credit UnionAmerican Airlines Federal Credit Union6205 Waterford District Dr, Miami, FL, 33126 6015A+5.0 ★Texas Ratio: 2.50% offering New Auto at 3.34%, Dade County Federal Credit UnionDade County Federal Credit Union111 NW 1st ST, Miami, FL, 33128A+5.0 ★Texas Ratio: 1.30% offering Business New Auto Loans at 3.49%, Miami Postal Service Credit UnionMiami Postal Service Credit Union2190 NW 72nd Ave, Miami, FL, 33122 1824A+5.0 ★Texas Ratio: 1.18% offering New Automobile at 3.49%, MIAMI FIREFIGHTERSMIAMI FIREFIGHTERS1111 NW 7th St, Miami, FL, 33136A+5.0 ★Texas Ratio: 0.75% offering Auto Loan at 3.59%, Baxter Credit UnionBaxter Credit Union11800 SW 147th Ave, Miami, FL, 33196A5.0 ★Texas Ratio: 6.20% offering Auto Loan at 3.64%. Auto loan rates as of September 22, 2026 according to verified data from MonitorBankRates.
Miami has 15 local institutions in our database, with auto loan rates as low as 3.34% APR from American Airlines Federal Credit Union at 6205 Waterford District Dr, Miami, FL, 33126 6015. Use the tabs below to compare new and used auto loan rates. Rates are continually updated, so we recommend checking back frequently.
Auto loan rates reflect recent market quotes and representative offers available to borrowers in Miami, Florida. Auto Loan Rates Last Updated and Verified: September 22, 2026
Compare Auto Loan Rates Today in Miami, Florida & Surrounding Area
Miami Auto Loan Rates
As Low As
As low as
As low as
The rate includes a 0.25% discount for new and used vehicles financed with a loan-to-value (LTV) ratio of 80% or less, an additional 0.25% discount for vehicles with an extended warranty purchase through MPSCU and a discount of 0.25% for setting up automatic ACH payments.
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As Low As; 2025 & Newer
The rate includes a 0.25% discount for new and used vehicles financed with a loan-to-value (LTV) ratio of 80% or less, an additional 0.25% discount for vehicles with an extended warranty purchase through MPSCU and a discount of 0.25% for setting up automatic ACH payments.
As Low As
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
Purchase transaction only. Other conditions may apply.
Purchase transactions only. Other conditions may apply.
As Low As
As low as
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As Low As
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As Low As; 2025 & Newer
As low as
As low as
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As low as
As low as
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As Low As; 2022 - 2024*
Loan Amount: $2,500+
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
As low as
As Low As
As low as
As low as
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
Payment example based on a $20,000 loan
Term: 6 years (over $15,000); As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
Loan Amount: $2,500+
As low as
As Low As
As low as
As low as
As Low As; Amount Financed: 100%
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
Payment example based on a $20,000 loan
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As; 2022 - 2024*
As Low As; 2025 & Newer
Loan Amount: $2,500+
Loan Amount: $2,500+
As Low As; Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
As low as
As Low As
As low as
As low as
As low as; 100%
Minimum loan amount required. Other conditions may apply.
Minimum loan amount required. Other conditions may apply.
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
Loan Amount: $5,000+
Minimum loan amount required. Other conditions may apply.
Minimum loan amount required. Other conditions may apply.
Rate APR* New; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
Term: 7 years (over $25,000)*** New Vehicle; As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
Loan Amount: $2,500+
As low as
As Low As
As low as
As low as
As Low As; Amount Financed: 100%
As Low As
Term: 6 years (over $15,000); As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
Loan Amount: $5,000+
Loan Amount: $15,000+
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As; Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
As low as
As Low As
As low as
As low as
As low as; 100%
Rate APR* Used; The "as low as" rates are based on 0.25% payroll deduction discount, 0.25% direct deposit discount.
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As Low As
As low as
As Low As; Amount Financed: 100%
As Low As; Minimum Loan Amount: $10,000
APR based on 60 months and $45,000 financing. For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term.
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As Low As; Eligible model years 2023-2026. Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
APR based on 60 months and $30,000 financing. For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term.
Loan Amount: $15,000+
Term: 7 years (over $25,000)*** Used Vehicle / Refinance; As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As Low As; 2022 - 2024*
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As low as; 100%
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
Minimum loan amount required. Other conditions may apply.
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As; Amount Financed: 100%
As Low As; Minimum Loan Amount: $12,000
As low as
As low as
As low as; 100%
As Low As; Minimum Loan Amount: $20,000
Loan Amount: $2,500+
Loan Amount: $20,000+
As Low As; Amount Financed: 100%
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
Loan Amount: $20,000+
Loan Amount: $10,000+
As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
Loan Amount: $25,000+
Loan Amount: $25,000+
Loan Amount: $40,000+
Minimum loan amount required. Other conditions may apply.
Term: 7-12 years (over $20,000); As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Intro/promo APR: 2%; Intro rate expires: 12 months; Regular APR: 13.65% - 18.00% Variable APR*
Model/Year: 2019-2026
Rates as low as 3.25% APR; Finance up to 125% MSRP (new vehicles) or NADA (used vehicles); No prepayment penalties; Refinance existing Auto Loans for cash out or lower payments; Take a pre-approved loan to the dealer when you shop; Keys FCU is an ITIN-approved lender!
Published APR range: 3.35% - 18.00%.
Published APR range: 3.49% - 17.99%.
As low as; New cars are financed for a term up to 72 months. Used cars may be financed from 24 to 60 months depending on the year of the car.
Rate listed is for a 36-month term. For longer term rates contact Credit Union.
Model/Year: 2020-2026
as low as 3.75% with Relationship Rewards Example Payment Disclosure: To finance an auto loan of $15,000 at 4.75% APR for 36 months with $0.00 down payment would be a payment of $447.88 per month
Term: 72 Months / $20,000.00 Minimum; Published APR range: 3.95% - 18.00%.
As Low As; based on credit score
As Low As; based on credit score
Published APR range: 3.99% - 17.99%.
New Automobile (2025 & newer)
Autos up to 10 years old
As low as
As Low As; Limited Time Offer!
Rate listed is for a 36-month term. For longer term rates contact Credit Union.
APR includes Local Heroes Program Discount
As low as
As Low As
Up to 120% Financing on Approved Credit
Up to 120% Financing on Approved Credit
Published APR range: 4.24 - 17.97%.
Published APR range: 4.24 - 17.97%.
Published APR range: 4.24 - 17.97%.
Published APR range: 4.25% - 15.50%. Ask about our Protection Plans!
APR includes Local Heroes Program Discount
36 months at 4.390% (4.390% APR) for a $30,000 loan would result in a monthly payment of $890.93. Last updated 08/01/2026
As low as
As low as
APR includes Local Heroes Program Discount
Miami New Auto Auto Loan Rates
As Low As
As low as
As low as
The rate includes a 0.25% discount for new and used vehicles financed with a loan-to-value (LTV) ratio of 80% or less, an additional 0.25% discount for vehicles with an extended warranty purchase through MPSCU and a discount of 0.25% for setting up automatic ACH payments.
Purchase transaction only. Other conditions may apply.
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
As Low As
As low as
As low as
As low as
As low as
As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as
As low as
Payment example based on a $20,000 loan
Term: 6 years (over $15,000); As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as
As low as
As Low As; Amount Financed: 100%
Payment example based on a $20,000 loan
As Low As; Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
As low as
As low as
Minimum loan amount required. Other conditions may apply.
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
Minimum loan amount required. Other conditions may apply.
Term: 7 years (over $25,000)*** New Vehicle; As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as
As low as
As Low As; Amount Financed: 100%
As Low As; Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
As low as
As low as
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As Low As; Amount Financed: 100%
APR based on 60 months and $45,000 financing. For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term.
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
Minimum loan amount required. Other conditions may apply.
As Low As; Amount Financed: 100%
As low as
As low as
As Low As; Amount Financed: 100%
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Intro/promo APR: 2%; Intro rate expires: 12 months; Regular APR: 13.65% - 18.00% Variable APR*
Rates as low as 3.25% APR; Finance up to 125% MSRP (new vehicles) or NADA (used vehicles); No prepayment penalties; Refinance existing Auto Loans for cash out or lower payments; Take a pre-approved loan to the dealer when you shop; Keys FCU is an ITIN-approved lender!
Published APR range: 3.35% - 18.00%.
Published APR range: 3.49% - 17.99%.
As low as; New cars are financed for a term up to 72 months. Used cars may be financed from 24 to 60 months depending on the year of the car.
Rate listed is for a 36-month term. For longer term rates contact Credit Union.
Term: 72 Months / $20,000.00 Minimum; Published APR range: 3.95% - 18.00%.
As Low As; based on credit score
New Automobile (2025 & newer)
Autos up to 10 years old
As low as
APR includes Local Heroes Program Discount
As low as
As Low As
Up to 120% Financing on Approved Credit
Up to 120% Financing on Approved Credit
Published APR range: 4.24 - 17.97%.
Published APR range: 4.24 - 17.97%.
Published APR range: 4.24 - 17.97%.
Published APR range: 4.25% - 15.50%. Ask about our Protection Plans!
36 months at 4.390% (4.390% APR) for a $30,000 loan would result in a monthly payment of $890.93. Last updated 08/01/2026
As low as
As low as
APR includes Local Heroes Program Discount
Miami Used Auto Auto Loan Rates
The rate includes a 0.25% discount for new and used vehicles financed with a loan-to-value (LTV) ratio of 80% or less, an additional 0.25% discount for vehicles with an extended warranty purchase through MPSCU and a discount of 0.25% for setting up automatic ACH payments.
As Low As
Purchase transactions only. Other conditions may apply.
As Low As
As low as
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
Published APR range: As low as 3.99% *. As low as 9.99% **
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As
As Low As
As low as
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As
As low as
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As
As low as
As low as; 100%
Minimum loan amount required. Other conditions may apply.
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
Minimum loan amount required. Other conditions may apply.
As Low As
As low as
Term: 6 years (over $15,000); As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As Low As
As low as
As low as; 100%
As Low As
As low as
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As Low As; Eligible model years 2023-2026. Includes a one-time $150 loan origination fee and 0.65% interest rate discount for automatic payment draft from a SouthState checking account. Your actual APR may vary based on creditworthiness, loan amount, loan term and vehicle.
APR based on 60 months and $30,000 financing. For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term.
Term: 7 years (over $25,000)*** Used Vehicle / Refinance; As low as; The above annual percentage rates (APR) are the lowest rates offered to applicants with direct deposit of net pay and a checking account. Applicants who are not approved at these rates or terms may be offered credit at a higher rate and/or different terms. All loan requests and rates are subject to credit approval. Does not apply to member with existing equity loans.
As low as; 100%
A Business Checking Account is Required for Loan. Auto Pay from Business Checking for Rate Discount.
As Low As; 0.25% payroll deduction discount, 0.25% direct deposit discount
As low as; 100%
Minimum loan amount required. Other conditions may apply.
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Published APR range: As low as 9.99% **; Published rate range: As low as 3.99% *. FAM Annual Percentage Rate; As low as 3.99% *; Annual Percentage Rate; As low as 9.99% **
Rates as low as 3.25% APR; Finance up to 125% MSRP (new vehicles) or NADA (used vehicles); No prepayment penalties; Refinance existing Auto Loans for cash out or lower payments; Take a pre-approved loan to the dealer when you shop; Keys FCU is an ITIN-approved lender!
Published APR range: 3.35% - 18.00%.
As low as; New cars are financed for a term up to 72 months. Used cars may be financed from 24 to 60 months depending on the year of the car.
Term: 72 Months / $20,000.00 Minimum; Published APR range: 3.95% - 18.00%.
As Low As; based on credit score
Published APR range: 3.99% - 17.99%.
Autos up to 10 years old
As Low As; Limited Time Offer!
Rate listed is for a 36-month term. For longer term rates contact Credit Union.
As Low As
Up to 120% Financing on Approved Credit
Up to 120% Financing on Approved Credit
APR includes Local Heroes Program Discount
Miami, FL Auto Loan Rate Trends
Compare local Miami, FL auto loan rates against the statewide average
Daily auto loan rate averages tracked across our database of 8,500+ banks and credit unions, updated every evening.
Florida new auto rates rose 0.346 points over the past 7 days to 5.550% APR.
Florida used auto rates rose 0.067 points over the past 7 days to 5.864% APR.
Miami, FL Auto Loan Rate Forecast, Next 12 Months
Auto loan APRs track lender funding costs, which follow Federal Reserve policy. Our model projects the likely path of new and used auto averages from the current Florida figures.
Forecast Methodology & Assumptions
Key assumptions: the Federal Reserve holds the federal funds rate at its current level over the next 12 months, with the possibility of one 25 basis point increase; auto lenders reprice within one to two policy cycles as funding costs move, and credit union pricing tends to lag banks slightly.
Important notice: this forecast is for informational purposes only and should not be used as the sole basis for financial decisions. Rate forecasts carry significant uncertainty. The actual trajectory will depend on Federal Reserve decisions, economic conditions, and competitive dynamics among financial institutions.
What Would Your Monthly Car Payment Be?
Estimated monthly payments on a standard 60-month auto loan at today’s average Florida APRs. Even a small APR difference adds up over the life of a car loan. Use the calculator below to model your exact loan.
| Loan Amount | New Auto @ 5.55% APR FL average | Used Auto @ 5.86% APR FL average | Monthly Difference |
|---|---|---|---|
| $15,000 | $286.86/mo | $289.04/mo | $2.18/mo |
| $25,000 | $478.10/mo | $481.74/mo | $3.63/mo |
| $35,000 | $669.34/mo | $674.43/mo | $5.09/mo |
| $45,000 | $860.58/mo | $867.13/mo | $6.54/mo |
Principal and interest only, 60-month term, calculated from current average APRs. Taxes, title, registration, and optional add-ons are not included. Your APR depends on credit score, loan term, vehicle age, and lender underwriting.
How to Get the Best Auto Loan Rate in Miami, Florida
Get Preapproved Before You Shop
A preapproval from a bank or credit union serving Miami, Florida locks in a real rate before you set foot on a dealer lot. It turns you into a cash buyer, gives you a benchmark to beat, and protects you from dealer financing markups. Dealers can legally add points to the rate a lender actually approved you for.
Check Credit Unions First
Credit unions consistently offer some of the lowest auto loan APRs in Florida. Membership is usually easier to get than people expect. Many local credit unions accept anyone who lives, works, or worships in the area, and some let you join with a small donation to a partner charity.
Choose the Shortest Term You Can Afford
Shorter terms almost always carry lower APRs, and you pay interest for fewer months. A 72- or 84-month loan lowers the monthly payment but dramatically raises total interest cost and increases the time you spend “underwater”, owing more than the car is worth. Aim for 60 months or less if the payment fits your budget.
Mind the New vs. Used Rate Spread
Used car loans typically run 0.5 to 1.5 percentage points above new car rates. If you’re shopping late-model used vehicles, ask about certified pre-owned programs. CPO vehicles sometimes qualify for new-car financing rates, which can offset part of the price difference between the two.
- Saving up for a bigger down payment: park it in a Miami, Florida high-yield savings account so it earns while you shop
- Buying from a private seller where auto financing is harder to arrange: compare personal loan rates
- Car fund you won’t need for a set period: Miami, Florida CD rates lock in a guaranteed return until you’re ready to buy
Miami, Florida Financial Snapshot
Local demographics and economic context for car buyers. Source: U.S. Census Bureau
A $574 monthly car payment works out to roughly 18.1% of the median individual income in Miami, Florida. Most budgeting guidelines suggest keeping total vehicle costs (payment, insurance, fuel, and maintenance) under 15–20% of take-home pay.
Auto Financing Options Compared
An auto loan isn’t the only way to finance a vehicle in Miami, Florida, but for most borrowers it’s the cheapest. Here’s how the main options stack up.
| Feature | Credit Union Auto Loan | Bank Auto Loan | Dealer Financing | Personal Loan |
|---|---|---|---|---|
| Typical APR Level | ✓ Often lowest | ✓ Competitive | ● Varies, can be marked up | ✗ Highest (unsecured) |
| Rate Locked Before You Shop | ✓ Yes, via preapproval | ✓ Yes, via preapproval | ✗ Arranged at the dealership | ✓ Yes |
| Membership / Relationship Required | ● Membership (usually easy) | ✗ No | ✗ No | ✗ No |
| Works for Private-Party Sales | ✓ Usually | ● Sometimes | ✗ No | ✓ Yes |
| Convenience at Purchase | ● Preapproval step first | ● Preapproval step first | ✓ One-stop at the dealer | ● Funds in 1–3 days |
| Best For | Lowest total cost of borrowing | Existing bank customers & rate discounts | Manufacturer 0% promos on new cars | Older vehicles lenders won’t finance |
General comparison for educational purposes. Manufacturer promotional financing (0–2.9% APR offers) through dealers can beat any bank or credit union rate when you qualify. Always compare the promo against a cash rebate plus outside financing.
Auto Loan Payment Calculator
Estimate your monthly payment on a new or used vehicle in Miami, Florida. We’ve prefilled the APR with today’s FL new-auto average, or click any current rate on the right to apply it instantly.
Estimates include principal and interest only. Sales tax, title, registration, documentation fees, and optional products (GAP, warranties) are not included and are often financed into the loan. Advertised APRs typically require excellent credit; your rate may differ.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Miami, Florida auto loan rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Auto Loan Rate Data: We aggregate new and used auto loan rates for Miami, Florida directly from the official websites of banks, credit unions, and online lenders using our proprietary rate aggregation technology and a dedicated team of rate updaters. By sourcing data from the lenders’ own digital properties and verifying APRs regularly, every rate on MonitorBankRates.com is highly accurate and trustworthy.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available auto loan products in Miami, Florida. We feature a comprehensive mix of lenders, from neighborhood credit unions and competitive regional banks to large national auto lenders available to borrowers in FL.
Regularly Updated APRs: Our rate updaters verify and update auto loan rates regularly. Because APRs can change based on market conditions and lender policies, every product features its own “last updated” date for full transparency. Auto loan APRs shown typically represent the lowest available rate for borrowers with excellent credit; your actual rate will depend on your credit history, credit score, income, loan term, vehicle age, and other underwriting factors.
Frequently Asked Questions about Auto Loans in Miami, Florida
How does my credit score affect my car loan rate in Florida?
Is it better to finance through a dealership or a bank?
What is the difference between New and Used Auto Loan rates?
How long should my auto loan term be?
Should I get preapproved for an auto loan before visiting a dealer in Miami, Florida?
Why are used car loan rates higher than new car rates?
Can I refinance my auto loan if rates drop or my credit improves?
What are the best Auto Loan rates in Miami, Florida?
- American Airlines Federal Credit Union: 3.34% (New Auto)
- Dade County Federal Credit Union: 3.49% (Business New Auto Loans)
- Miami Postal Service Credit Union: 3.49% (New Automobile)
- MIAMI FIREFIGHTERS: 3.59% (Auto Loan)
- Baxter Credit Union: 3.64% (Auto Loan)
Miami, Florida Rates & Resources
