Auto Loan
Best Auto Loan Rates in Texas
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Auto loan rates in Texas are influenced by various factors, including credit scores, loan term lengths, and the type of car being financed. Generally, higher credit scores result in lower APRs.
Here are the current auto loan rates in Texas, along with details on the best rates available from banks, credit unions, and other national institutions.
The average auto loan rate in Texas ranges above 6%. There are banks, credit unions, and other national institutions that offer auto loans at good rates. Proper research will help you find one that suits your needs and budget. Here is a list of banks, credit unions, and other national institutions that provide the best auto loan rates in Texas.
When it comes to the banks that offer the best rates in Texas, the best rates are offered by American Bank, Business Bank of Texas, Western Alliance Bank, and Green Bank.
| American Bank, National Association | 6.06% | 6.06% | 6.06% | 6.06% |
| Business Bank of Texas, N.A. | 6.06% | 6.06% | 6.96% | 7.01% |
| First Lockhart National Bank | 6.55% | 6.55% | 6.55% | 6.80% |
| Green Bank, National Association | 6.31% | 6.31% | 6.31% | 6.31% |
| Keystone Bank, National Association | 6.31% | 6.31% | 6.31% | 6.31% |
| Security State Bank and Trust | 6.81% | 6.81% | NA | NA |
| Truist Bank | 6.43% | 6.43% | 6.43% | 6.43% |
| Western Alliance Bank | 5.81% | 5.81% | 5.81% | N.A. |
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 Texas that give the best interest rates include the Austin Federal Credit Union, Government Employees Federal Credit Union, and United Heritage Credit Union. So, with a good credit score, there are chances for you to lock in 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% | NA |
| Penfed Credit Union | 5.50% | 5.60% | 5.65% | 7.05% |
| Austin Federal Credit Union | 5.55% | 5.55% | 5.55% | 5.80% |
| Government Employees Federal Credit Union | 5.05% | 5.15% | 5.25% | 5.35% |
| Greater Texas Federal Credit Union | 5.96% | NA | NA | NA |
| Nizari Progressive Federal Credit Union | 5.55% | 5.81% | 6.05% | 6.30% |
| State Farm Federal Credit Union | 5.55% | 5.55% | 5.55% | 5.55% |
| Technology Credit Union | 6.05% | NA | 6.55% | N.A. |
| United Heritage Credit Union | 5.30% | 5.30% | 5.30% | 5.30% |
Nationalized institutions are a trusted option when it comes to auto loan rates. PenFed Credit Union, Navy Federal Credit Union, and Affinity Plus Federal Credit Unions are some of the national institutions that offer the best auto loan rates in Texas.
| 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 | NA | 6.05% | N.A. | NA |
| Affinity Plus Federal Credit Union | 6.05% | NA | 6.30% | 6.55% |
| NASA Federal Credit Union | 5.80% | N.A. | 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% | N.A. | NA | NA |
For used cars, the lowest APR rates are found with Western Alliance Bank, with APR as low as 6.06% for 36 months.
| Company | APR (36 months) | APR (48 months) | APR (60 months) | APR (72 months) |
|---|---|---|---|---|
| Broadway National Bank | 6.96% | 6.96% | 6.96% | N.A. |
| Business Bank of Texas, N.A. | 6.56% | 6.56% | N.A. | NA |
| First Lockhart National Bank | 6.55% | 6.55% | 6.55% | 6.80% |
| Moody National Bank | 7.16% | 7.16% | NA | NA |
| Truist Bank | 6.43% | 6.43% | 6.43% | 6.43% |
| Western Alliance Bank | 6.06% | 6.06% | 6.06% | N.A. |
Credit unions that offer the best rates for used cars in Texas include Government Employees Federal Credit Union, State Farm Federal Credit Union, and Austin Federal Credit Union. The APR rate ranges between 5.05% 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% | NA | 7.05% |
| Austin Federal Credit Union | 5.80% | 5.80% | 5.80% | N.A. |
| Government Employees Federal Credit Union | 5.05% | 5.15% | 5.25% | 5.35% |
| Greater Texas Federal Credit Union | 5.96% | NA | NA | 7.20% |
| Nizari Progressive Federal Credit Union | 5.81% | 6.05% | 6.56% | N.A. |
| State Farm Federal Credit Union | 5.55% | 5.55% | 5.55% | N.A. |
| Technology Credit Union | 6.30% | NA | NA | 7.30% |
| United Heritage Credit Union | 5.30% | 5.30% | 5.30% | N.A. |
JP Morgan Chase Bank National Association is a good option for your used car loan if you are opting for a national institution. Chartway Federal Credit Union is also a good option, with APR as low as 6.31% 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% | N.A. | 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 Texas start at 5.81% 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 Texas are offered across banks and credit unions. American Bank, Business Bank of Texas, Western Alliance Bank, Green Bank, Government Employees Federal Credit Union, State Farm Federal Credit Union, and Austin Federal Credit Union are some of the credit unions and banks that offer good options for auto loans in the state.
American Bank, Business Bank of Texas, Western Alliance Bank, Green Bank, Government Employees Federal Credit Union, State Farm Federal Credit Union, and Austin Federal Credit Union are some of the credit unions and banks that offer good options for auto loans in Texas.
If you have an excellent credit score, then the best rates for auto loans now stand at 5.81% 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 the lender and the criteria they weigh for providing loans. In Texas, American Bank, Business Bank of Texas, Western Alliance Bank, and Green Bank offer competitive rates.
Government Employees Federal Credit Union, State Farm Federal Credit Union, and Austin Federal Credit Union are the credit unions that provide the best auto loan rates in Texas.
The average auto loan interest rate for used cars starts at 6.06%.