Maryland Best Auto Loan Rates - September 2026
Brian McKay
Brian McKay
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Current auto loan rates in Maryland include WEPCO Federal Credit UnionWEPCO Federal Credit Union12511 Winchester Rd SW, LaVale, MD, 21502A+5.0 ★Texas Ratio: 3.33% offering New or Used Vehicle Loans at 2.49%, First Peoples Community Federal Credit UnionFirst Peoples Community Federal Credit Union54 QUEEN CITY DR, CUMBERLAND, MD, 21502A+5.0 ★Texas Ratio: 1.23% offering 72-Month Auto Loan Promo at 2.99%, Ferko Maryland Federal Credit UnionFerko Maryland Federal Credit Union502 W Patrick St, Frederick, MD, 21701A+5.0 ★Texas Ratio: 1.68% offering Auto Loans at 3.00%, POCU of MarylandPOCU of Maryland900 E Fayette St Rm 606, Baltimore, MD, 21233 1050A+5.0 ★Texas Ratio: 4.45% offering New Car Loan at 3.09%, Bull Dog Federal Credit UnionBull Dog Federal Credit Union580 Northern Ave, Hagerstown, MD, 21742A+5.0 ★Texas Ratio: 1.51% offering Vehicle Loans at 3.25%. Auto loan rates as of September 21, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare auto loan rates across Maryland side-by-side. Maryland auto loan rates currently start as low as 2.49% APR from WEPCO Federal Credit Union at 12511 Winchester Rd SW, LaVale, MD, 21502. Rates are continually updated, so we recommend checking back frequently.
Auto loan rates reflect recent market quotes and representative offers available to borrowers in Maryland. Auto Loan Rates Last Updated and Verified: September 21, 2026
Compare Auto Loan Rates Today in Maryland
Maryland Auto Loan Rates
As Low As
As Low As
As low as; 2023 & newer; with less than 45,000 miles and valued at $15,000 or more
Published APR range: 3.00% to 7.50%. All Motorcycles are 1.00% higher than the auto rates above.
Amount Down: 50%; Model Year: 2026/2025 New
Minimum Financing of $10,000 for 60 Months; As Low As
Published APR range: 3.25% to 6.25%. All Motorcycles are 1.00% higher than the auto rates above.
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 25%-49%; Model Year: 2026/2025 New
2023 & newer; As low as
As low as rates are the lowest possible rates for that category and are available to members with excellent credit. Your rate may be higher depending on your credit history. APR= Annual Percentage Rate. $0 down payment required. Vehicles over 100,000 miles, add 2% (max. mileage 115,000); Vehicles over 10 years, add 2%. **84-mo. term with vehicle loans of $25,000 or more.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
Minimum Financing of $15,000 for 72 Months; As Low As
As Low As
As Low As
2023 & newer; As low as
Published APR range: 3.50% to 5.50%. All Motorcycles are 1.00% higher than the auto rates above.
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
as low as; Loan Term
As Low As; Minimum Financing of $10,000 for 60 Months
As low as with Relationship Rewards
As Low As;
As Low As;
Published APR range: 3.75% to 5.25%. All Motorcycles are 1.00% higher than the auto rates above.
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
0% down
Term: Any Term Up to 7 Years; No Model Year Restrictions
Term: Any Term Up to 7 Years; No Model Year Restrictions
2023 & newer; As low as
2018-2022; As low as
As Low As
As Low As
As Low As;
As Low As;
Amount Down: 0%-24%; Model Year: 2026/2025 New
as low as; Loan Term
Example based on the maximum term listed in the range.
0% down
Minimum Financing of $25,000 for 84 Months; As Low As
As Low As; Minimum Financing of $15,000 for 72 Months
As low as
Rates as low as 4.24% APR; FREE car buying service
Rates as low as 4.24% APR; FREE car buying service; New and used vehicles; Fast pre-approvals; Free Car Buying Center; Terms up to 7 years; Guaranteed Asset Protection (GAP) available; Low-cost credit insurance available; Mechanical Repair Coverage (MRC) - offered by TruStageTM, add the warranty to your current vehicle or the one that you are planning to purchase.
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
Rates as low as 4.24% APR; FREE car buying service; New and used vehicles; Fast pre-approvals; Free Car Buying Center; Terms up to 7 years; Guaranteed Asset Protection (GAP) available; Low-cost credit insurance available; Mechanical Repair Coverage (MRC) - offered by TruStageTM, add the warranty to your current vehicle or the one that you are planning to purchase.
As Low As;
As Low As
As Low As;
Amount Down: 50%; Model Year: 2026/2025 Used
2018-2022; As low as
Example based on the maximum term listed in the range.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
2023 & newer; As low as
As Low As
As Low As
As Low As
As Low As;
As Low As;
Loan Amount: $5,000 min; APR* as low as**; New = never titled and less than 12,000 miles, Used = previously titled.
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Example based on the maximum term listed in the range.
as low as; Loan Term
Loan Amount: $5,000-$125,000
With Direct Payment Discount
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
0% down
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
As Low As; Minimum Financing of $25,000 for 84 Months
As Low As
As Low As
As Low As
As Low As
over $20,000
Minimum $25,000 loan amount
As Low As
As Low As;
Loan Amount: $15,000 min; APR* as low as**; New = never titled and less than 12,000 miles, Used = previously titled.
Amount Down: 50%; Model Year: 2024/2023
Amount Down: 50%; Model Year: 2026/2025 New
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
As low as
As low as
Minimum Loan Amount: $5,000; Maximum LTV: 80% LTV
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Automated Payments APR as low as; To qualify for the Automated Payment Interest Rate, at the time of loan settlement you must establish an automated loan payment from an APGFCU account to repay your loan.
Example based on the maximum term listed in the range.
As low as
Loan based on approved credit. Rates subject to change without notice.
Model Year: 2025; Minimum Loan Amount: $5,000
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
As Low As; Rate is based on model year and term. Additional model year terms and rates are available. Rate is valid for purchases and refinances from another lender only; internal refinances are excluded from special rates. Cash out refinances are ineligible. Vehicles with mileage over 100,000 add 2 percentage points to rates. Classic cars add 2 percentage points to the oldest rates. Terms and rates will vary on loans for business purposes.
As Low As
With Direct Payment Discount
With Direct Payment Discount
New Auto APR* as low as
over $20,000
2023 & newer; As low as
2018-2022; As low as
As Low As
As Low As
As Low As; Rate subject to change. Rates are determined by an evaluation of the applicant's credit. Your actual rate may vary. Minimum amount to finance is $30K
As Low As; Rate subject to change. Rates are determined by an evaluation of the applicant's credit. Your actual rate may vary. Minimum amount to finance is $30K
Rates displayed are the lowest rates available for Tier 1 credit, including a discount for automatic payment from a Northrop Grumman Federal Credit Union checking or savings account. Minimum $10,001 on loans with a term of more than 48 months.
Rates displayed are the lowest rates available for Tier 1 credit, including a discount for automatic payment from a Northrop Grumman Federal Credit Union checking or savings account. Minimum $10,001 on loans with a term of more than 48 months.
As Low As
As Low As
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2019 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2019 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2023 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2023 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
As Low As;
Amount Down: 25%-49%; Model Year: 2024/2023
Amount Down: 25%-49%; Model Year: 2024/2023
Amount Down: 0%-24%; Model Year: 2026/2025 New
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
Model Year: 2024; Minimum Loan Amount: $5,000
Loan Amount: Up to $25,000; Amount: Up to 125% of MSRP to include tax, tags, warranties and GAP; Annual Percentage Rate. The auto loan rates above include discounts for automatic payment and discounts under the Member Loyalty Program. Total rate discounts cannot exceed 1.50%. Rates, terms, and conditions vary based on creditworthiness and other qualifications and are subject to change. Payment examples do not include debt protection coverage.
Amount: Up to 125% of financing of NADA Clean Retail to include tax, tags, warranties and GAP; Loan Amount: Up to $15,000; Annual Percentage Rate. The auto loan rates above include discounts for automatic payment and discounts under the Member Loyalty Program. Total rate discounts cannot exceed 1.50%. Rates, terms, and conditions vary based on creditworthiness and other qualifications and are subject to change. Payment examples do not include debt protection coverage.
as low as; Loan Term
as low as; Loan Term; **76-84 month term available for model years 2025 and newer only.
Model Year: 2026; Minimum Loan Amount: $5,000
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Automated Payments APR as low as; To qualify for the Automated Payment Interest Rate, at the time of loan settlement you must establish an automated loan payment from an APGFCU account to repay your loan.
As low as
As Low As
With Direct Payment Discount
With Direct Payment Discount
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
APR as low as
Used Auto APR* as low as
As Low As
As Low As
over $20,000
As Low As
Minimum $25,000 loan amount
As Low As
Maryland New Auto Auto Loan Rates
As Low As
As Low As
Amount Down: 50%; Model Year: 2026/2025 New
Minimum Financing of $10,000 for 60 Months; As Low As
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 25%-49%; Model Year: 2026/2025 New
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
Minimum Financing of $15,000 for 72 Months; As Low As
As Low As
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
as low as; Loan Term
As Low As; Minimum Financing of $10,000 for 60 Months
As Low As;
Amount Down: 25%-49%; Model Year: 2026/2025 New
Amount Down: 0%-24%; Model Year: 2026/2025 New
0% down
Term: Any Term Up to 7 Years; No Model Year Restrictions
As Low As
As Low As;
Amount Down: 0%-24%; Model Year: 2026/2025 New
as low as; Loan Term
Example based on the maximum term listed in the range.
0% down
Minimum Financing of $25,000 for 84 Months; As Low As
As Low As; Minimum Financing of $15,000 for 72 Months
As low as
Rates as low as 4.24% APR; FREE car buying service
Rates as low as 4.24% APR; FREE car buying service; New and used vehicles; Fast pre-approvals; Free Car Buying Center; Terms up to 7 years; Guaranteed Asset Protection (GAP) available; Low-cost credit insurance available; Mechanical Repair Coverage (MRC) - offered by TruStageTM, add the warranty to your current vehicle or the one that you are planning to purchase.
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
As Low As;
As Low As
Example based on the maximum term listed in the range.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
As Low As; CPFCU will finance based on credit and retail value of the vehicle. See Auto Loan Rates for details.
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
As Low As
As Low As
As Low As;
Loan Amount: $5,000 min; APR* as low as**; New = never titled and less than 12,000 miles, Used = previously titled.
Example based on the maximum term listed in the range.
With Direct Payment Discount
0% down
As Low As; Minimum Financing of $25,000 for 84 Months
As Low As
As Low As
Minimum $25,000 loan amount
As Low As
Loan Amount: $15,000 min; APR* as low as**; New = never titled and less than 12,000 miles, Used = previously titled.
Amount Down: 50%; Model Year: 2026/2025 New
As low as
Minimum Loan Amount: $5,000; Maximum LTV: 80% LTV
Example based on the maximum term listed in the range.
As low as
Loan based on approved credit. Rates subject to change without notice.
Model Year: 2025; Minimum Loan Amount: $5,000
As Low As
With Direct Payment Discount
New Auto APR* as low as
As Low As
As Low As; Rate subject to change. Rates are determined by an evaluation of the applicant's credit. Your actual rate may vary. Minimum amount to finance is $30K
As Low As
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2019 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2019 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Amount Down: 0%-24%; Model Year: 2026/2025 New
Model Year: 2024; Minimum Loan Amount: $5,000
Loan Amount: Up to $25,000; Amount: Up to 125% of MSRP to include tax, tags, warranties and GAP; Annual Percentage Rate. The auto loan rates above include discounts for automatic payment and discounts under the Member Loyalty Program. Total rate discounts cannot exceed 1.50%. Rates, terms, and conditions vary based on creditworthiness and other qualifications and are subject to change. Payment examples do not include debt protection coverage.
Amount: Up to 125% of financing of NADA Clean Retail to include tax, tags, warranties and GAP; Loan Amount: Up to $15,000; Annual Percentage Rate. The auto loan rates above include discounts for automatic payment and discounts under the Member Loyalty Program. Total rate discounts cannot exceed 1.50%. Rates, terms, and conditions vary based on creditworthiness and other qualifications and are subject to change. Payment examples do not include debt protection coverage.
as low as; Loan Term; **76-84 month term available for model years 2025 and newer only.
Model Year: 2026; Minimum Loan Amount: $5,000
As Low As
With Direct Payment Discount
APR as low as
As Low As
As Low As
Maryland Used Auto Auto Loan Rates
As Low As
As Low As
Minimum Financing of $10,000 for 60 Months; As Low As
Minimum Financing of $15,000 for 72 Months; As Low As
As Low As
As Low As; Minimum Financing of $10,000 for 60 Months
As Low As;
Term: Any Term Up to 7 Years; No Model Year Restrictions
As Low As
As Low As;
Minimum Financing of $25,000 for 84 Months; As Low As
As Low As; Minimum Financing of $15,000 for 72 Months
Rates as low as 4.24% APR; FREE car buying service
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
Rates as low as 4.24% APR; FREE car buying service; New and used vehicles; Fast pre-approvals; Free Car Buying Center; Terms up to 7 years; Guaranteed Asset Protection (GAP) available; Low-cost credit insurance available; Mechanical Repair Coverage (MRC) - offered by TruStageTM, add the warranty to your current vehicle or the one that you are planning to purchase.
As Low As
As Low As;
Amount Down: 50%; Model Year: 2026/2025 Used
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
The rate displayed is the lowest rate and not all applicants qualify for the lowest rate.
Up to 135% of Car Value
As Low As
As Low As;
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
Age of Vehicle: 1-7 years
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
As Low As; Minimum Financing of $25,000 for 84 Months
As Low As
As Low As
over $20,000
As Low As;
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
As low as
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Automated Payments APR as low as; To qualify for the Automated Payment Interest Rate, at the time of loan settlement you must establish an automated loan payment from an APGFCU account to repay your loan.
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
As Low As; Rate is based on model year and term. Additional model year terms and rates are available. Rate is valid for purchases and refinances from another lender only; internal refinances are excluded from special rates. Cash out refinances are ineligible. Vehicles with mileage over 100,000 add 2 percentage points to rates. Classic cars add 2 percentage points to the oldest rates. Terms and rates will vary on loans for business purposes.
With Direct Payment Discount
over $20,000
As Low As
As Low As
As Low As; Rate subject to change. Rates are determined by an evaluation of the applicant's credit. Your actual rate may vary. Minimum amount to finance is $30K
Rates displayed are the lowest rates available for Tier 1 credit, including a discount for automatic payment from a Northrop Grumman Federal Credit Union checking or savings account. Minimum $10,001 on loans with a term of more than 48 months.
Rates displayed are the lowest rates available for Tier 1 credit, including a discount for automatic payment from a Northrop Grumman Federal Credit Union checking or savings account. Minimum $10,001 on loans with a term of more than 48 months.
As Low As
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2023 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
Actual rate may be higher based on income, credit worthiness, and loan to value. Financing available for model years 2023 to current model year. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Qualified Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Qualified direct deposit is a recurring direct deposit of a paycheck, pension, Social Security or other periodic payment of at least $500 into a checking or savings account on a month-to-month basis made by an outside organization or agency.
As Low As;
Amount Down: 25%-49%; Model Year: 2026/2025 Used
Amount Down: 0%-24%; Model Year: 2026/2025 Used
Amount: Up to 125% of financing of NADA Clean Retail to include tax, tags, warranties and GAP; Loan Amount: Up to $15,000; Annual Percentage Rate. The auto loan rates above include discounts for automatic payment and discounts under the Member Loyalty Program. Total rate discounts cannot exceed 1.50%. Rates, terms, and conditions vary based on creditworthiness and other qualifications and are subject to change. Payment examples do not include debt protection coverage.
Minimum Loan Amount: $5,000; Maximum LTV: 90% LTV
Automated Payments APR as low as; To qualify for the Automated Payment Interest Rate, at the time of loan settlement you must establish an automated loan payment from an APGFCU account to repay your loan.
As low as
With Direct Payment Discount
0% down; To purchase (from a dealer or private party) or refinance a vehicle (2020-2023) model year
Used Auto APR* as low as
As Low As
over $20,000
As Low As
Minimum $25,000 loan amount
As Low As
Maryland Auto Loan Rate Trends
Compare local Maryland 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.
Maryland new auto rates rose 0.030 points over the past 7 days to 5.541% APR.
Maryland used auto rates fell 0.243 points over the past 7 days to 6.264% APR.
Maryland 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 Maryland 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 Maryland 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 @ 5.54% APR MD average | Used Auto @ 6.26% APR MD average | Monthly Difference |
|---|---|---|---|
| $15,000 | $286.80/mo | $291.84/mo | $5.04/mo |
| $25,000 | $478.01/mo | $486.40/mo | $8.39/mo |
| $35,000 | $669.21/mo | $680.96/mo | $11.75/mo |
| $45,000 | $860.41/mo | $875.52/mo | $15.11/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 Maryland
Get Preapproved Before You Shop
A preapproval from a bank or credit union serving Maryland 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 Maryland. 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 Maryland 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: Maryland CD rates lock in a guaranteed return until you’re ready to buy
Maryland Financial Snapshot
Local demographics and economic context for car buyers. Source: U.S. Census Bureau
A $574 monthly car payment works out to roughly 12.1% of the median individual income in Maryland. 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 Maryland, 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 Maryland. We’ve prefilled the APR with today’s MD 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 Maryland 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 Maryland 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 Maryland. We feature a comprehensive mix of lenders, from neighborhood credit unions and competitive regional banks to large national auto lenders available to borrowers in MD.
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 Maryland
How does my credit score affect my car loan rate in Maryland?
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 Maryland?
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 Maryland?
- WEPCO Federal Credit Union: 2.49% (New or Used Vehicle Loans)
- First Peoples Community Federal Credit Union: 2.99% (72-Month Auto Loan Promo)
- Ferko Maryland Federal Credit Union: 3.00% (Auto Loans)
- POCU of Maryland: 3.09% (New Car Loan)
- Bull Dog Federal Credit Union: 3.25% (Vehicle Loans)
Auto Loan Rates by City in Maryland
