New York Best Auto Loan Rates - September 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current auto loan rates in New York include Boulevard Federal Credit UnionBoulevard Federal Credit Union2787 Niagara Falls Blvd, Amherst, NY, 14228A+5.0 ★Texas Ratio: 2.82% offering Auto Loan at 1.99%, Triboro Postal Federal Credit UnionTriboro Postal Federal Credit Union14202 20th Ave, Flushing, NY, 11351 3000A+5.0 ★Texas Ratio: 0.57% offering New Car Loan at 2.25%, Polish And Slavic Federal Credit UnionPolish And Slavic Federal Credit Union100 McGuinness Blvd, Brooklyn, NY, 11222A+5.0 ★Texas Ratio: 1.36% offering New Auto Loan at 2.99%, Afgm Enterprises Federal Credit UnionAfgm Enterprises Federal Credit Union132 Cayuga Rd, Cheektowaga, NY, 14225A+5.0 ★Texas Ratio: 2.92% offering New Auto / Truck at 3.00%, Financial Trust Federal Credit UnionFinancial Trust Federal Credit Union3333 Harlem Rd, Cheektowaga, NY, 14225A+5.0 ★Texas Ratio: 1.62% offering New Auto Loan at 3.29%. Auto loan rates as of September 21, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare auto loan rates across New York side-by-side. New York auto loan rates currently start as low as 1.99% APR from Boulevard Federal Credit Union at 2787 Niagara Falls Blvd, Amherst, NY, 14228. Rates are continually updated, so we recommend checking back frequently.
Auto loan rates reflect recent market quotes and representative offers available to borrowers in New York. Auto Loan Rates Last Updated and Verified: September 21, 2026
Compare Auto Loan Rates Today in New York
New York Auto Loan Rates
As low as; Rates effective 09/01/2025. Creditworthiness factors, and other loan terms may affect the actual rate offered. Other conditions may apply. Contact the Credit Union for complete details.
As low as; Rates for models 2024-2026
20 - 21
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As
As low as; Financing: 100% Subject to approval based on credit score. All interest rates are subject to change.
As low as
As Low As
As Low As
As Low As
As Low As
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low as
as low as; Loan Term
As Low As; Rate includes auto-pay discount of .25%
As Low As; Rate includes auto-pay discount of .25%
Cars & Trucks; Military; First Responder; Graduate & First-time Discounts
As low as; Rates effective 09/01/2025. Creditworthiness factors, and other loan terms may affect the actual rate offered. Other conditions may apply. Contact the Credit Union for complete details.
As low as; Rates for models 2024-2026
Term: Up to 36 months (2021- 2026)
Credit Score: 760+; Credit Tier: A+
As Low as
As Low As
As Low as
As Low As; Model Year: 2023 - 2027
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
New Auto (2025 & 2026)
New Auto (2025 & 2026)
Used Auto (2021 - 2025)
As Low As
As Low As
As Low As; Fixed
As Low As; Fixed
Up to $100,000.00; New purchases only (excludes refinances on existing MEFCU loans)
Up to $100,000.00; Used purchases only (excludes refinances on existing MEFCU loans)
As Low As; w/ Auto Pay Discount: 3.89%
18 - 19
As Low As; 4+ Model Years - Max Mileage 60,000 Max Term for automobiles 5 to 6 years is 72 monthsMax Mileage for Auto Loans is 150,000
As Low As
As Low As
As Low As; Model Year: 2022-2027
The following rates may be higher based on your credit score:
As Low As; New Models 2026-2022
2023 & Newer; Up to 100% NADA + Tax + Warranty
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As low as; Financing: 100% Subject to approval based on credit score. All interest rates are subject to change.
Loan Special at 4.00%
As Low As; Model Year: 2024 and Newer
Credit Score: 760+; Credit Tier: A+
As Low As
as low as; Loan Term
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
As Low As
As low as; Rates effective 09/01/2025. Creditworthiness factors, and other loan terms may affect the actual rate offered. Other conditions may apply. Contact the Credit Union for complete details.
As low as; Rates for models 2024-2026
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
As Low As
As Low As
As Low As
As Low As
Lowest rates based on "A" credit rating
Lowest rates based on "A" credit rating
Lowest rates based on "A" credit rating
Lowest rates based on "A" credit rating
As Low As; w/ Auto Pay Discount: 4.14%
As Low As; 4+ Model Years - Max Mileage 60,000 Max Term for automobiles 5 to 6 years is 72 monthsMax Mileage for Auto Loans is 150,000
As Low As; New Models 2026-2022
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
New Auto Loans (2 Years Old & Newer)
APR for Model Years 2023 and Newer
100% financing of purchase price, tax and license
As Low As; New 2026-2025
As low as
Model Year: 2026 - 25
Up to $100,000.00; Used purchases only (excludes refinances on existing MEFCU loans)
Credit Limit: Up To 100% Financing; Model Year: 2026 - 2027
Loan Special at 4.25%
Term: 37 to 60 months (2021- 2026)
As Low As; *
Rate quoted is for A or A+ credit with term of 36 months or less for vehicle model year 2022 or newer. Rate based on credit worthiness, term of loan, and vehicle model year if auto loan.
Rate quoted is for A or A+ credit with term of 36 months or less for vehicle model year 2022 or newer. Rate based on credit worthiness, term of loan, and vehicle model year if auto loan.
As Low As*
As Low As; *
As Low As; *
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
New Auto (2025 & 2026)
As Low As
Lowest rates based on "A" credit rating
As Low As; w/ Auto Pay Discount: 4.39%
Published APR range: 4.49% - 12.24%. Auto (2024 & newer) 102% of NADA plus taxes and fees.
As Low As; 4+ Model Years - Max Mileage 60,000 Max Term for automobiles 5 to 6 years is 72 monthsMax Mileage for Auto Loans is 150,000
As Low As; Model Year: 2022-2027 (minimum loan amount $30,000)
As Low As; with Direct Deposit
As Low As; With Direct Deposit
APR with Discount as low as*: 3.99%
APR with Discount as low as*: 3.99%
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
New Auto Loans (2 Years Old & Newer)
Credit Grade / Score: A+ (730+)
Model Year: 2023 - 2027
As low as
As low as
APR for Model Years 2023 and Newer
100% financing of retail Kelley Blue Book for autos less than 6 years old
As Low As; New 2026-2025
Model Year: 2024
16 - 17
Model Year: 2026 - 2027
APR* as low as: 4.50%
APR* as low as: 4.50%
As Low As; *
5%-40% down payment
As Low As
Rate: 4.500%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Credit Score: 700-759; Credit Tier: A
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; *
as low as; Loan Term
Loan Amount: $2,500+
As Low As; Model Year: 2023 - 2027
As Low As; Model Year: 2023 - 2027
As Low As; Model Year: 2023 - 2027
Published APR range: 4.69% - 12.44%. Auto (2024 & newer) 102% of NADA plus taxes and fees.
Published APR range: 4.69% - 12.44%. Used Auto (2023 & Older) 102% of NADA plus taxes and fees. ** 2016 and older cannot exceed a 36-month term
As Low As; Rate includes auto-pay discount of .25%
As Low As; Rate includes auto-pay discount of .25%
As Low As; *
As Low As;; Model Year: 2020 - 2022
As Low As
As Low As; w/ Auto Pay Discount: 4.64%
As Low As; 4+ Model Years - Max Mileage 60,000 Max Term for automobiles 5 to 6 years is 72 monthsMax Mileage for Auto Loans is 150,000
As Low As; New Models 2026-2022
New Auto Loans (2 Years Old & Newer)
As Low As
As low as
As low as
Model Year: 2023 - 2027
Cars & Trucks; Military; First Responder; Graduate & First-time Discounts
Cars & Trucks; Military; First Responder; Graduate & First-time Discounts
APR for Model Years 2023 and Newer
Paper Grade: A+
Paper Grade: A+
Paper Grade: A+
New York New Auto Auto Loan Rates
As low as; Rates for models 2024-2026
20 - 21
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As
As low as; Financing: 100% Subject to approval based on credit score. All interest rates are subject to change.
As Low As
As Low As
As Low As
As Low As
As Low As; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low as
as low as; Loan Term
As Low As; Rate includes auto-pay discount of .25%
As low as; Rates for models 2024-2026
As Low as
As Low as
As Low As; Model Year: 2023 - 2027
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
New Auto (2025 & 2026)
New Auto (2025 & 2026)
Up to $100,000.00; New purchases only (excludes refinances on existing MEFCU loans)
As Low As; w/ Auto Pay Discount: 3.89%
As Low As
As Low As
As Low As; Model Year: 2022-2027
The following rates may be higher based on your credit score:
As Low As; New Models 2026-2022
Loan Special at 4.00%
As Low As; Model Year: 2024 and Newer
As Low As
as low as; Loan Term
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
As Low As
As low as; Rates for models 2024-2026
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
As Low As; w/ Auto Pay Discount: 4.14%
As Low As; New Models 2026-2022
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
New Auto Loans (2 Years Old & Newer)
100% financing of purchase price, tax and license
As Low As; New 2026-2025
Credit Limit: Up To 100% Financing; Model Year: 2026 - 2027
Loan Special at 4.25%
As Low As; *
Rate quoted is for A or A+ credit with term of 36 months or less for vehicle model year 2022 or newer. Rate based on credit worthiness, term of loan, and vehicle model year if auto loan.
As Low As; *
As Low As; *
Annual Percentage Rate. Competitive Fixed Rates. Financing up to 125% of the NADA value or purchase price, whichever is less, PLUS tax, title, registration and warranty for model years 2021-2027. Never owned or previously titled. For terms 72 months or greater, the minimum loan amount of $20,000. APR offered is subject to change and all loans are subject to approval. 0.25% APR discount is available for automatic loan payments and automatic payment discounts are reflected in the rates above. A 0.5% APR discount is available on auto loans for hybrid cars. Actual rate may vary. Monthly payment amount shown is calculated per $1,000 and is based on a 30 day month.
New Auto (2025 & 2026)
As Low As; w/ Auto Pay Discount: 4.39%
Published APR range: 4.49% - 12.24%. Auto (2024 & newer) 102% of NADA plus taxes and fees.
As Low As; Model Year: 2022-2027 (minimum loan amount $30,000)
As Low As; With Direct Deposit
APR with Discount as low as*: 3.99%
As low as; Maximum loan amount: $100,000 (includes motorcycles, boats, & RV's); All offers of credit are subject to credit approval; not all applicants will qualify for the lowest rate and may be offered credit at higher rates and other terms based on creditworthiness. Rates assume excellent borrower credit history.
New Auto Loans (2 Years Old & Newer)
Model Year: 2023 - 2027
As Low As; New 2026-2025
Model Year: 2026 - 2027
5%-40% down payment
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; Model Year: 2023 - 2027
As Low As; Model Year: 2023 - 2027
As Low As; Model Year: 2023 - 2027
Published APR range: 4.69% - 12.44%. Auto (2024 & newer) 102% of NADA plus taxes and fees.
As Low As; Rate includes auto-pay discount of .25%
As Low As; w/ Auto Pay Discount: 4.64%
As Low As; New Models 2026-2022
New Auto Loans (2 Years Old & Newer)
As Low As
Model Year: 2023 - 2027
Paper Grade: A+
Paper Grade: A+
Paper Grade: A+
New York Used Auto Auto Loan Rates
As Low As
As Low As
As Low As
As Low As
As Low As; Rate includes auto-pay discount of .25%
As Low As
Used Auto (2021 - 2025)
Up to $100,000.00; Used purchases only (excludes refinances on existing MEFCU loans)
As Low As; w/ Auto Pay Discount: 3.89%
18 - 19
As Low As; Model Year: 2022-2027
The following rates may be higher based on your credit score:
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
Rate: 3.990%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As low as; Financing: 100% Subject to approval based on credit score. All interest rates are subject to change.
As Low As; w/ Auto Pay Discount: 4.14%
Up to $100,000.00; Used purchases only (excludes refinances on existing MEFCU loans)
Rate quoted is for A or A+ credit with term of 36 months or less for vehicle model year 2022 or newer. Rate based on credit worthiness, term of loan, and vehicle model year if auto loan.
As Low As; w/ Auto Pay Discount: 4.39%
As Low As; Model Year: 2022-2027 (minimum loan amount $30,000)
APR with Discount as low as*: 3.99%
Credit Grade / Score: A+ (730+)
100% financing of retail Kelley Blue Book for autos less than 6 years old
16 - 17
As Low As
Rate: 4.500%; The rate you receive will be based upon your credit history, collateral, and loan character. The above interest rates apply when automatic payment from the PSFCU Checking Account is selected. Rates are 0.25% higher without automatic payment from the PSFCU Checking Account.
As Low As
Published APR range: 4.69% - 12.44%. Used Auto (2023 & Older) 102% of NADA plus taxes and fees. ** 2016 and older cannot exceed a 36-month term
As Low As; Rate includes auto-pay discount of .25%
As Low As; w/ Auto Pay Discount: 4.64%
As Low As
New York Auto Loan Rate Trends
Compare local New York 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.
New York new auto rates fell 0.072 points over the past 7 days to 5.897% APR.
New York used auto rates fell 0.260 points over the past 7 days to 6.277% APR.
New York 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 New York 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 New York 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 @ 5.90% APR NY average | Used Auto @ 6.28% APR NY average | Monthly Difference |
|---|---|---|---|
| $15,000 | $289.27/mo | $291.93/mo | $2.65/mo |
| $25,000 | $482.12/mo | $486.54/mo | $4.42/mo |
| $35,000 | $674.96/mo | $681.16/mo | $6.19/mo |
| $45,000 | $867.81/mo | $875.78/mo | $7.96/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 New York
Get Preapproved Before You Shop
A preapproval from a bank or credit union serving New York 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 New York. 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 New York 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: New York CD rates lock in a guaranteed return until you’re ready to buy
New York Financial Snapshot
Local demographics and economic context for car buyers. Source: U.S. Census Bureau
A $579 monthly car payment works out to roughly 13.6% of the median individual income in New York. 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 New York, 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 New York. We’ve prefilled the APR with today’s NY 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 New York 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 New York 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 New York. We feature a comprehensive mix of lenders, from neighborhood credit unions and competitive regional banks to large national auto lenders available to borrowers in NY.
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 New York
How does my credit score affect my car loan rate in New York?
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 New York?
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 New York?
- Boulevard Federal Credit Union: 1.99% (Auto Loan)
- Triboro Postal Federal Credit Union: 2.25% (New Car Loan)
- Polish And Slavic Federal Credit Union: 2.99% (New Auto Loan)
- Afgm Enterprises Federal Credit Union: 3.00% (New Auto / Truck)
- Financial Trust Federal Credit Union: 3.29% (New Auto Loan)
Auto Loan Rates by City in New York
