Rhode Island Best Auto Loan Rates - October 2026
Brian McKay
Brian McKay
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Rhode Island auto loan rates range from 3.89% to 10.00% APR, verified by MonitorBankRates as of October 13, 2026. Current auto loan rates in Rhode Island include Navy Federal Credit UnionNavy Federal Credit Union657 Peary St, Newport, RI, 02840A5.0 ★Texas Ratio: 8.14% offering New Auto Loan at 3.89%, Cranston Municipal Employees Credit UnionCranston Municipal Employees Credit Union1615 Pontiac Ave, Cranston, RI, 02920A+5.0 ★Texas Ratio: 0.67% offering New Vehicles Only - Up to 48 months Loan at 4.49%, BrightBridge Credit UnionBrightBridge Credit Union1847 W Main Rd, Portsmouth, RI, 02871 1037A+5.0 ★Texas Ratio: 5.49% offering Auto Loan - Model Years 2026 - 2021 at 4.74%, Wave Federal Credit UnionWave Federal Credit Union480 Greenwich Ave, Warwick, RI, 02886 1606A+5.0 ★Texas Ratio: 3.78% offering Auto Loan - Models 2023-2026 at 4.99%, The Peoples Credit UnionThe Peoples Credit Union858 W Main Rd, Middletown, RI, 02842A+5.0 ★Texas Ratio: 4.51% offering Auto Loan 2022-2025 at 5.20%. Auto loan rates as of October 13, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare auto loan rates across Rhode Island side-by-side. Rhode Island auto loan rates currently start as low as 3.89% APR from Navy Federal Credit Union at 657 Peary St, Newport, RI, 02840. Rates are continually updated, so we recommend checking back frequently.
Auto loan rates reflect recent market quotes and representative offers available to borrowers in Rhode Island. Auto Loan Rates Last Updated and Verified: October 13, 2026
Compare Auto Loan Rates Today in Rhode Island
Rhode Island Auto Loan Rates
As Low As
As Low As; Rates subject to change.
As low as
As Low As
As Low As; Rates subject to change.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As
As Low As; Rates subject to change.
As Low As; To qualify for these rates, newly established direct deposit relationships of a minimum of $1,000 per month into any deposit account must be initiated within 45 days of loan closing. If the direct deposit is not established or is discontinued, the interest rate will increase by 0.50%. Direct deposit includes deposits from employer payroll, government benefits, retirement payments or pensions. Offer valid on auto loans originated on or after January 1, 2026. Not applicable to Line of credit, revolving or credit products. Promotional discount offering may be withdrawn at any time. Additional rates and terms are available. Advertised rate(s) available on New & Used Vehicle Loans of Model Year 2021 or Newer with a maximum loan to value (LTV) of 100% or less. Cost per thousand is calculated using the highest term in the range.
As Low As
As Low As; Rates subject to change.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As; To qualify for these rates, newly established direct deposit relationships of a minimum of $1,000 per month into any deposit account must be initiated within 45 days of loan closing. If the direct deposit is not established or is discontinued, the interest rate will increase by 0.50%. Direct deposit includes deposits from employer payroll, government benefits, retirement payments or pensions. Offer valid on auto loans originated on or after January 1, 2026. Not applicable to Line of credit, revolving or credit products. Promotional discount offering may be withdrawn at any time. Additional rates and terms are available. Advertised rate(s) available on New & Used Vehicle Loans of Model Year 2021 or Newer with a maximum loan to value (LTV) of 100% or less. Cost per thousand is calculated using the highest term in the range.
As Low As; To qualify for these rates, newly established direct deposit relationships of a minimum of $1,000 per month into any deposit account must be initiated within 45 days of loan closing. If the direct deposit is not established or is discontinued, the interest rate will increase by 0.50%. Direct deposit includes deposits from employer payroll, government benefits, retirement payments or pensions. Offer valid on auto loans originated on or after January 1, 2026. Not applicable to Line of credit, revolving or credit products. Promotional discount offering may be withdrawn at any time. Additional rates and terms are available. Advertised rate(s) available on New & Used Vehicle Loans of Model Year 2021 or Newer with a maximum loan to value (LTV) of 100% or less. Cost per thousand is calculated using the highest term in the range.
Model Year: 2023-2026
As low as
Model Years 2022-2025; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Year: 2024 - NEW; Minimum Loan: $1,000.00
As Low As
As Low As; Rates subject to change.
Model Years 2022-2025; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
As Low As
As Low As; Rates subject to change.
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
- Sep 27, 20265.49%▲ from 5.39%
- Sep 18, 20265.39%first recorded
As Low As; To qualify for these rates, newly established direct deposit relationships of a minimum of $1,000 per month into any deposit account must be initiated within 45 days of loan closing. If the direct deposit is not established or is discontinued, the interest rate will increase by 0.50%. Direct deposit includes deposits from employer payroll, government benefits, retirement payments or pensions. Offer valid on auto loans originated on or after January 1, 2026. Not applicable to Line of credit, revolving or credit products. Promotional discount offering may be withdrawn at any time. Additional rates and terms are available. Advertised rate(s) available on New & Used Vehicle Loans of Model Year 2021 or Newer with a maximum loan to value (LTV) of 100% or less. Cost per thousand is calculated using the highest term in the range.
As Low As; To qualify for these rates, newly established direct deposit relationships of a minimum of $1,000 per month into any deposit account must be initiated within 45 days of loan closing. If the direct deposit is not established or is discontinued, the interest rate will increase by 0.50%. Direct deposit includes deposits from employer payroll, government benefits, retirement payments or pensions. Offer valid on auto loans originated on or after January 1, 2026. Not applicable to Line of credit, revolving or credit products. Promotional discount offering may be withdrawn at any time. Additional rates and terms are available. Advertised rate(s) available on New & Used Vehicle Loans of Model Year 2021 or Newer with a maximum loan to value (LTV) of 100% or less. Cost per thousand is calculated using the highest term in the range.
Model Year: 2023-2026
Model Years: 2023-2026; Advertised APR based on 700+ credit score and max 120% LTV; includes 0.25% automatic payment discount
Model Years 2023-2026; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
- Oct 9, 20265.49%▲ from 5.34%
- Sep 18, 20265.34%first recorded
Model Years: 2023-2026; Published rate includes 0.25% automatic payment discount; Advertised APR based on credit score of 700 and max LTV 120%
Model Years: 2023-2026; Published rate includes 0.25% automatic payment discount; Advertised APR based on credit score of 700 and max LTV 120%
Model Year: 2025-2026
- Sep 18, 20265.49%▲ from 4.99%
- Sep 14, 20264.99%first recorded
Model Year: 2025-2026
- Sep 18, 20265.49%▲ from 4.99%
- Sep 14, 20264.99%first recorded
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
Model Years 2016-2022 section (repeated disclosure block); Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
Model Years 2022-2025; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
- Sep 27, 20265.69%▲ from 5.59%
- Sep 18, 20265.59%first recorded
Model Year: 2021-2024
- Sep 18, 20265.69%▲ from 5.19%
- Sep 14, 20265.19%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Years 2016-2022 section (repeated disclosure block); Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
Model Years 2023-2026; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
- Oct 9, 20265.74%▼ from 5.79%
- Sep 14, 20265.79%first recorded
Model Year: 2020-2022
- Oct 9, 20265.74%▲ from 5.54%
- Sep 18, 20265.54%first recorded
Model Year: 2020-2022
- Oct 9, 20265.74%▲ from 5.54%
- Sep 18, 20265.54%first recorded
Model Years: 2023-2026; Published rate includes 0.25% automatic payment discount; Advertised APR based on credit score of 700 and max LTV 120%
Model Year: 2024 - NEW; Minimum Loan: $1,000.00
As low as
As low as
100% Financing; 6 Years
Model Year: 2020
- Sep 18, 20265.89%▲ from 5.39%
- Sep 14, 20265.39%first recorded
100% financing; 7 Years
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As
As Low As; Rates subject to change.
Model Year: 2023-2026
Model Year: NEW 2025-2026
Model Year: 2020 - 2023; Minimum Loan: $1,000.00
Model Year: 2021-2024
- Sep 18, 20265.99%▲ from 5.49%
- Sep 14, 20265.49%first recorded
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
- Oct 5, 20265.99%▲ from 5.49%
- Sep 18, 20265.49%first recorded
As Low As; 10% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
- Oct 13, 20266.00%▼ from 6.75%
- Sep 14, 20266.75%first recorded
Model Year: 2020-2022
- Oct 9, 20266.14%▲ from 5.99%
- Sep 18, 20265.99%first recorded
- Oct 2, 20266.24%▲ from 6.14%
- Sep 27, 20266.14%▲ from 6.04%
- Sep 18, 20266.04%▲ from 5.94%
- Sep 14, 20265.94%first recorded
For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term. Purchase of a new car would have a 6.24% APR for 60 months, monthly payment of $875.01 for $45,000 financing, down payment of $0
- Oct 2, 20266.24%▲ from 6.14%
- Sep 27, 20266.14%▲ from 6.04%
- Sep 18, 20266.04%▲ from 5.94%
- Sep 14, 20265.94%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Year: 2022-2023
Model Years 2016-2022 section (repeated disclosure block); Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
100% Financing; 5 Years
As Low As; Model Year: 2025-2026; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
- Oct 2, 20266.29%▲ from 6.19%
- Sep 27, 20266.19%▲ from 6.09%
- Sep 18, 20266.09%▲ from 5.99%
- Sep 14, 20265.99%first recorded
For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term. Purchase of a used 2022 year car would have a 6.29% APR for 60 months, monthly payment of $584.04 for $30,000 financing, down payment of $0
- Oct 2, 20266.29%▲ from 6.19%
- Sep 27, 20266.19%▲ from 6.09%
- Sep 18, 20266.09%▲ from 5.99%
- Sep 14, 20265.99%first recorded
As low as
Model Year: NEW 2025-2026
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Year: 2020 - 2023; Minimum Loan: $1,000.00
Model Year: 2022-2023
Model Year: 2019-2021
Model Years 2022-2025; Minimum loan amount $25,000; maximum mileage 25,000; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
Model Years 2023-2026; Minimum loan amount $25,000; maximum mileage 40,000; Advertised APR based on credit score 700 and max LTV 120%; includes 0.25% automatic payment discount
- Oct 9, 20266.74%▲ from 6.64%
- Sep 14, 20266.64%first recorded
Model Years: 2023-2026; Minimum loan amount $25,000 with maximum mileage 40,000 for 84-month terms; Published rate includes 0.25% automatic payment discount; Advertised APR based on credit score of 700 and max LTV 120%
Model Year: 2019
- Oct 13, 20266.89%▲ from 5.89%
- Sep 18, 20265.89%▼ from 6.39%
- Sep 14, 20266.39%first recorded
Model Year: 2017-2019
- Oct 9, 20266.90%▲ from 6.70%
- Sep 18, 20266.70%first recorded
100% Financing; 4 Years
As Low As
As Low As; Rates subject to change.
Model Year: 2016 - 2019; Minimum Loan: $1,000.00
As Low As; Model Year: 2023-2024; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
As Low As; Model Year: 2021-2022; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
As Low As; Model Year: 2019-2020; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
Model Year: 2019-2021
Model Year: 2016
- Oct 9, 20267.10%▼ from 7.24%
- Sep 18, 20267.24%first recorded
Down Payment: 5%
As Low As; Minimum: $10,000 minimum; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
Model Year: NEW 2025-2026
As Low As
As Low As; Rates subject to change.
As low as
Model Year: 2018
- Oct 13, 20267.39%▲ from 5.89%
- Sep 18, 20265.89%▼ from 6.89%
- Sep 14, 20266.89%first recorded
As low as
As low as
Down Payment: 5%
Down Payment: 10%
Model Year: 2017-2019
- Oct 9, 20267.54%▲ from 7.24%
- Sep 18, 20267.24%first recorded
Model Year: 2022-2023
Model Year: 2016-2018
Down Payment: 5%
Down Payment: 10%
As Low As; Minimum: $20,000 minimum; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
Model Year: 2017
- Oct 13, 20267.89%▲ from 5.89%
- Sep 18, 20265.89%▼ from 7.39%
- Sep 14, 20267.39%first recorded
Down Payment: 5%
Down Payment: 10%
Model Year: 2016
- Sep 18, 20268.39%▲ from 7.89%
- Sep 14, 20267.89%first recorded
Model Year: 2016-2018
Model Year: 2015 and Older
Model Year 2024 or newer with a maximum loan to value (LTV) of 95% or less and less than 10,001 miles. All Product offerings are subject to individual applicant credit worthiness.
As low as; Other Collateral: $25,000 minimum amount financed for 61-84 months. $30,000 minimum amount financed for over 84 months.
As low as; Other Collateral: $25,000 minimum amount financed for 61-84 months. $30,000 minimum amount financed for over 84 months.
As low as; Other Collateral: $25,000 minimum amount financed for 61-84 months. $30,000 minimum amount financed for over 84 months.
Model Year 2024 or older with a maximum loan to value (LTV) of 95% or less and more than 10,000 miles. All Product offerings are subject to individual applicant credit worthiness.
Model Year: 2015 and Older
As Low As; Vehicle Year: Older Vehicles; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
- Oct 13, 202610.00%▲ from 7.00%
- Sep 18, 20267.00%first recorded
Rhode Island New Auto Auto Loan Rates
As Low As
As Low As; Rates subject to change.
As low as
As Low As
As Low As; Rates subject to change.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As
As Low As; Rates subject to change.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Year: 2024 - NEW; Minimum Loan: $1,000.00
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
- Sep 27, 20265.49%▲ from 5.39%
- Sep 18, 20265.39%first recorded
Model Year: 2025-2026
- Sep 18, 20265.49%▲ from 4.99%
- Sep 14, 20264.99%first recorded
Model Year: 2024 - NEW; Minimum Loan: $1,000.00
As low as
As low as
100% financing; 7 Years
As Low As
As Low As; Rates subject to change.
As Low As; 10% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
- Oct 13, 20266.00%▼ from 6.75%
- Sep 14, 20266.75%first recorded
- Oct 2, 20266.24%▲ from 6.14%
- Sep 27, 20266.14%▲ from 6.04%
- Sep 18, 20266.04%▲ from 5.94%
- Sep 14, 20265.94%first recorded
For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term. Purchase of a new car would have a 6.24% APR for 60 months, monthly payment of $875.01 for $45,000 financing, down payment of $0
- Oct 2, 20266.24%▲ from 6.14%
- Sep 27, 20266.14%▲ from 6.04%
- Sep 18, 20266.04%▲ from 5.94%
- Sep 14, 20265.94%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Down Payment: 5%
As Low As; Minimum: $10,000 minimum; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
As Low As
As Low As; Rates subject to change.
Down Payment: 5%
Down Payment: 5%
As Low As; Minimum: $20,000 minimum; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage
Down Payment: 5%
Model Year 2024 or newer with a maximum loan to value (LTV) of 95% or less and less than 10,001 miles. All Product offerings are subject to individual applicant credit worthiness.
Rhode Island Used Auto Auto Loan Rates
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As
As Low As; Rates subject to change.
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As low as
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
As Low As
As Low As; Rates subject to change.
As Low As
As Low As; Rates subject to change.
Model Year: 2025-2026
- Sep 18, 20265.49%▲ from 4.99%
- Sep 14, 20264.99%first recorded
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
As low as; Rates displayed do not include the additional BofA RewardsTM interest rate discount up to 0.50%.
- Sep 27, 20265.69%▲ from 5.59%
- Sep 18, 20265.59%first recorded
Model Year: 2021-2024
- Sep 18, 20265.69%▲ from 5.19%
- Sep 14, 20265.19%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
100% Financing; 6 Years
Model Year: 2020
- Sep 18, 20265.89%▲ from 5.39%
- Sep 14, 20265.39%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
Model Year: 2021-2024
- Sep 18, 20265.99%▲ from 5.49%
- Sep 14, 20265.49%first recorded
Rates shown for members with an 'A' credit score of 720 or above and 1.00% reduction for payments automatically deducted from a WCCU Checking Account; Maximum LTV 115% for used auto loans 2021 - 2025
- Oct 5, 20265.99%▲ from 5.49%
- Sep 18, 20265.49%first recorded
Published rate includes a 0.25% discount when you maintain an autopayment from your CMECU checking account.
100% Financing; 5 Years
As Low As; Model Year: 2025-2026; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
- Oct 2, 20266.29%▲ from 6.19%
- Sep 27, 20266.19%▲ from 6.09%
- Sep 18, 20266.09%▲ from 5.99%
- Sep 14, 20265.99%first recorded
For customers with excellent credit who apply online. Your rate may vary based on credit history, vehicle, financing amount and term. Purchase of a used 2022 year car would have a 6.29% APR for 60 months, monthly payment of $584.04 for $30,000 financing, down payment of $0
- Oct 2, 20266.29%▲ from 6.19%
- Sep 27, 20266.19%▲ from 6.09%
- Sep 18, 20266.09%▲ from 5.99%
- Sep 14, 20265.99%first recorded
As low as
Model Year: 2019
- Oct 13, 20266.89%▲ from 5.89%
- Sep 18, 20265.89%▼ from 6.39%
- Sep 14, 20266.39%first recorded
100% Financing; 4 Years
As Low As
As Low As; Rates subject to change.
As Low As; Model Year: 2023-2024; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
As Low As; Model Year: 2021-2022; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
As Low As; Model Year: 2019-2020; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
As low as
Model Year: 2018
- Oct 13, 20267.39%▲ from 5.89%
- Sep 18, 20265.89%▼ from 6.89%
- Sep 14, 20266.89%first recorded
Down Payment: 10%
Down Payment: 10%
Model Year: 2017
- Oct 13, 20267.89%▲ from 5.89%
- Sep 18, 20265.89%▼ from 7.39%
- Sep 14, 20267.39%first recorded
Down Payment: 10%
Model Year: 2016
- Sep 18, 20268.39%▲ from 7.89%
- Sep 14, 20267.89%first recorded
Model Year 2024 or older with a maximum loan to value (LTV) of 95% or less and more than 10,000 miles. All Product offerings are subject to individual applicant credit worthiness.
As Low As; Vehicle Year: Older Vehicles; 15% Down Payment or GAP Coverage; Must Have Full Insurance Coverage; Maximum Mileage = 90,000 miles
- Oct 13, 202610.00%▲ from 7.00%
- Sep 18, 20267.00%first recorded
Rhode Island Auto Loan Rate Trends
Compare local Rhode Island 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.
Rhode Island new auto rates rose 0.028 points over the past 7 days to 5.621% APR.
Rhode Island used auto rates rose 0.006 points over the past 7 days to 6.080% APR.
Rhode Island 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 Rhode Island 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 Rhode Island 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 @ 5.62% APR RI average | Used Auto @ 6.08% APR RI average | Monthly Difference |
|---|---|---|---|
| $15,000 | $287.36/mo | $290.55/mo | $3.19/mo |
| $25,000 | $478.93/mo | $484.24/mo | $5.32/mo |
| $35,000 | $670.50/mo | $677.94/mo | $7.45/mo |
| $45,000 | $862.07/mo | $871.64/mo | $9.57/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 Rhode Island
Get Preapproved Before You Shop
A preapproval from a bank or credit union serving Rhode Island 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 Rhode Island. 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 Rhode Island 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: Rhode Island CD rates lock in a guaranteed return until you’re ready to buy
Rhode Island Financial Snapshot
Local demographics and economic context for car buyers. Source: U.S. Census Bureau
A $575 monthly car payment works out to roughly 14.0% of the median individual income in Rhode Island. Most budgeting guidelines suggest keeping total vehicle costs (payment, insurance, fuel, and maintenance) under 15 to 20% of take-home pay.
Auto Financing Options Compared
An auto loan isn’t the only way to finance a vehicle in Rhode Island, 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 to 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 to 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 Rhode Island. We’ve prefilled the APR with today’s RI 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 Rhode Island 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 Rhode Island 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 Rhode Island. We feature a comprehensive mix of lenders, from neighborhood credit unions and competitive regional banks to large national auto lenders available to borrowers in RI.
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.
Bad Credit Auto Loans in Rhode Island
You can get a car loan with bad credit, but your credit score moves the APR more than almost anything else. Lenders sort borrowers into tiers, and the average used car loan for a subprime borrower costs more than twice what a prime borrower pays. On a $25,000 used car loan over 60 months, that gap adds up to about $8,000 in extra interest.
| Credit Tier | Score Range | New Car APR | Used Car APR | $25,000 Used, 60 Mo. |
|---|---|---|---|---|
| Super prime | 781 to 850 | 4.41% | 6.29% | $487/mo |
| Prime | 661 to 780 | 6.15% | 8.81% | $517/mo |
| Near prime | 601 to 660 | 9.71% | 13.93% | $581/mo |
| Subprime | 501 to 600 | 13.52% | 19.10% | $650/mo |
| Deep subprime | 300 to 500 | 16.11% | 21.62% | $685/mo |
Average APRs from Experian, State of the Automotive Finance Market, Q2 2026 (VantageScore 4.0). Payment is principal and interest only.
Get Preapproved Before the Dealer
A preapproval from a bank or credit union gives you a real rate to compare. Dealers can add a markup to the rate a lender approves, and bad credit car buyers are the easiest to overcharge.
Start With a Credit Union
Federal credit unions cannot charge more than 18% APR on most loans through September 10, 2027, and many will look past your score at your income and history with them.
Put More Money Down
A larger down payment lowers the lender's risk and keeps you from owing more than the car is worth. Even 10% to 20% down can move a borderline application to an approval.
Keep the Term Short
A 72 or 84 month loan lowers the payment but stacks interest on top of an already high APR. Choose a less expensive car before you choose a longer term.
Add a Cosigner
A cosigner with strong credit can get you a prime rate. They are fully responsible for the loan if you miss payments, so only ask someone who understands that.
Be Careful With Buy Here Pay Here
These lots approve almost anyone, but often at the highest legal rates and on older cars. Many do not report on time payments to the credit bureaus, so the loan may not help rebuild your score.
Frequently Asked Questions about Auto Loans in Rhode Island
How does my credit score affect my car loan rate in Rhode Island?
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 Rhode Island?
Why are used car loan rates higher than new car rates?
Can I refinance my auto loan if rates drop or my credit improves?
Can I get an auto loan with bad credit in Rhode Island?
What is the average car loan rate for bad credit?
What are the best Auto Loan rates in Rhode Island?
- Navy Federal Credit Union: 3.89% (New Auto Loan)
- Cranston Municipal Employees Credit Union: 4.49% (New Vehicles Only - Up to 48 months Loan)
- BrightBridge Credit Union: 4.74% (Auto Loan - Model Years 2026 - 2021)
- Wave Federal Credit Union: 4.99% (Auto Loan - Models 2023-2026)
- The Peoples Credit Union: 5.20% (Auto Loan 2022-2025)
Rhode Island Rates & Resources
Auto Loan Rates by City in Rhode Island
