Auto Loan
Best Auto Loan Rates in Ohio
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Auto loan rates in Ohio are a result of a string of factors that influence them. This includes the credit scores, the term length, and the type of car you are taking the loan out for. So, the higher the credit score, the lower your APRs will be.
Here are the current auto loan rates in Ohio, along with the details of the best auto loan rates in Ohio and the banks, credit unions, and other national institutions that offer them.
The average auto loan rate in Ohio is in the range of 5% and 7%. There are banks, credit unions, and other national institutions that offer auto loans at good rates. However, to find one that suits your budget, you should carry out extensive research. Here is a list of banks, credit unions, and other national institutions that provide the best auto loan rates in Ohio.
When it comes to the banks that offer the best rates in Ohio, the best rates are offered by CenterBank, Fortch Bank, and North Side Bank and Trust Company. The APR for a loan term of 72 months is above 7% for most banks.
| Company | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| CenterBank | 5.56% | 5.81% | 6.06% | NA |
| Fortch Bank, National Association | 6.56% | 6.56% | 6.56% | NA |
| North Side Bank and Trust Company | 6.56% | 6.56% | 6.56% | 7.06% |
| PNC Bank, National Association | 6.90% | 6.90% | 7.05% | 7.10% |
| WesBanco Bank | 7.20% | 7.20% | 7.20% | 7.35% |
Credit unions are a great choice for affordable auto loans, especially if you are a member of the credit union. Some of the best credit unions in Ohio that give the best interest rates include the Cincinnati Interagency Federal Credit Union, Penfed Credit Union, and Greater Cincinnati Credit Union. So, if you have a good credit score, then credit unions can provide the best auto loan rates.
| Credit Union | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| Connexus Credit Union | 6.55% | 6.75% | 6.95% | 7.25% |
| Penfed Credit Union | 5.30% | 5.30% | 5.30% | 5.95% |
| Cincinnati Interagency Federal Credit Union | 5.30% | 5.30% | 5.30% | 5.30% |
| Cincinnati Ohio Police Credit Union | 7.05% | 7.05% | 7.05% | 7.05% |
| Cinco Family Financial Center Credit Union | 6.81% | 6.81% | 6.81% | 7.05% |
| Emery Federal Credit Union | 7.96% | 7.96% | 7.96% | 7.96% |
| Greater Cincinnati Credit Union | 6.31% | 6.31% | 6.31% | 5.55% |
| Postal Family Credit Union | 6.45% | 6.45% | 6.45% | 6.45% |
| Sharefax Credit Union Inc | 7.10% | 7.10% | 7.10% | NA |
| Superior Credit Union Inc | 6.81% | 6.81% | 6.81% | 7.05% |
The rates at nationalized institutions can be lower, but the credit score requirements can be stricter. PenFed Credit Union and Affinity Plus Federal Credit Unions are some of the national institutions that offer the best auto loan rates in Ohio.
| Company | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| Connexus Credit Union | 6.55% | 6.75% | 6.95% | 7.25% |
| PenFed Credit Union | 5.50% | 5.60% | 5.65% | 5.95% |
| Chartway Federal Credit Union | 5.81% | 5.81% | 5.91% | 6.31% |
| GTE Federal Credit Union | 6.05% | 6.05% | NA | NA |
| Affinity Plus Federal Credit Union | 6.05% | 6.30% | 6.30% | 6.55% |
| NASA Federal Credit Union | 5.80% | NA | NA | NA |
| Navy Federal Credit Union | 4.60% | 5.06% | 5.05% | 5.35% |
| USAA Federal Savings Bank | 5.80% | 5.80% | 5.80% | 5.80% |
| Wells Fargo Bank National Association | 3.43% | NA | NA | NA |
For used cars, the lowest APR rates are found with CenterBank, with APR as low as 5.56% for 36 months.
| Company | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| CenterBank | 5.56% | 5.81% | 6.06% | NA |
| Fortch Bank, National Association | 6.81% | 6.81% | 6.56% | NA |
| North Side Bank and Trust Company | 6.31% | 6.56% | 6.81% | NA |
| PNC Bank, National Association | 6.10% | 7.10% | 7.10% | 7.19% |
| Eagles Savings | NA | 7.19% | 7.19% | 7.35% |
Credit unions that offer the best rates for used cars in Ohio include Cincinnati Interagency Federal Credit Union, Postal Family Credit Union, and Connexus Credit Union. The APR rate ranges between 5.30% and 7% for most credit unions.
| Credit Union | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| Connexus Credit Union | 6.55% | 6.75% | 6.95% | 7.25% |
| Penfed Credit Union | 6.85% | 6.95% | 7.00% | 7.05% |
| Cincinnati Interagency Federal Credit Union | 5.30% | 5.30% | 5.30% | 5.30% |
| Cincinnati Ohio Police Credit Union | 7.05% | 7.05% | 7.05% | 7.05% |
| Cinco Family Financial Center Credit Union | 6.81% | 6.81% | 6.81% | NA |
| Kemba Credit Union | 7.25% | 7.25% | 7.25% | 7.96% |
| Postal Family Credit Union | 6.55% | 6.55% | 6.55% | 6.55% |
| Sharefax Credit Union Inc | 7.10% | 7.10% | 7.10% | NA |
| Superior Credit Union Inc | 6.81% | 6.81% | 6.81% | 7.05% |
Chartway Federal Credit Union is a good option for your used car loan if you are opting for a national institution. JP Morgan Chase Bank is also a good option, with APR as low as 3.45% for 72 months.
| Company | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| Connexus Credit Union | 6.55% | 6.75% | 6.95% | 7.25% |
| Penfed Credit Union | 6.85% | 6.95% | 7.00% | 7.05% |
| Chartway Federal Credit Union | 5.85% | 5.85% | 5.91% | 6.31% |
| Affinity Plus Federal Credit Union | 6.30% | 6.30% | NA | NA |
| JP Morgan Chase Bank National Association | 3.60% | 3.60% | 3.50% | 3.45% |
| Navy Federal Credit Union | 5.50% | 6.05% | 6.05% | 6.15% |
| USAA Federal Savings Bank | NA | NA | NA | 6.75% |
| Truist Bank | NA | 6.43% | 6.43% | 6.43% |
There are several factors you need to consider while researching your car loan rates.
The current auto loan rates in Ohio start at 5.56% if you are looking at banks and can be as low as 3.60% if you are considering other nationalized institutions or credit unions. Similarly, comparing offers from lenders will help you to understand the rates in the state.
The best auto loan rates in Ohio are offered across banks and credit unions. Cincinnati Interagency Federal Credit Union, Postal Family Credit Union, CenterBank, and Fortch Bank are some of the credit unions and banks that offer good options for auto loans in the state.
Which companies have the best car loan rates?
PenFed Credit Union, JP Morgan Chase Bank, Cincinnati Interagency Federal Credit Union, Postal Family Credit Union, CenterBank, and Fortch Bank are some of the banks and unions that offer the best car loan rates in Ohio.
If you have an excellent credit score, then the best rates for auto loans now stand at 5.56% in the state.
Your location, your credit history, and your down payment amount will influence the loan rates. It will vary with the person and with the lender and the criteria they weigh for providing loans. In Ohio, CenterBank and Fortch Bank offer competitive rates.
Cincinnati Interagency Federal Credit Union Postal Family Credit Union are the credit unions that provide the best auto loan rates in Ohio.
The average auto loan interest rate for used cars is 6.55% for used cars.