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National average auto loan rates for 48-month and 60-month new car loans from the Federal Reserve G.19.
Federal Reserve G.19 national average rates. 48-mo: 7.47% · 60-mo: 7.05%.
Monthly Payment
$594.74
at 7.05% national avg APR, 60 months
Amount Financed
$30,000
Total Interest
$5685
Total Cost
$35685
A 48-month term has higher monthly payments but saves hundreds in interest vs. 60 months. Aim for a term where your payment is under 15% of monthly take-home pay.
The Federal Reserve national average includes subprime borrowers. Excellent credit (750+) can often secure rates 1–2% below the national average at banks or credit unions.
USA Auto Loan Rates Tracker (Federal Reserve) shows Federal Reserve G.19 national average rates for 48-month and 60-month new car loans and calculates your estimated monthly payment and total interest.
Track national average auto loan rates for 48-month and 60-month new car loans from the Federal Reserve's G.19 Consumer Credit release. Calculate your estimated monthly payment.
Enter the vehicle price, down payment, and trade-in value
Select your loan term (48 or 60 months)
See estimated monthly payment at the current national average rate
Note: your actual rate depends on credit score, lender, and loan-to-value ratio
Rates from FRED series TERMCBAUTO48NS and TERMCBAUTO60NS represent quarterly average interest rates on consumer installment loans at commercial banks per the Federal Reserve G.19 Consumer Credit statistical release. Monthly payment uses PMT annuity formula.
The Federal Reserve publishes quarterly average rates for new car loans via the G.19 Consumer Credit statistical release. The 60-month rate is the most commonly referenced benchmark.
Credit unions typically offer rates 1–2% below national bank averages. Improving your credit score above 720 can also significantly lower your rate. Pre-approval shopping with multiple lenders within 14 days counts as one inquiry.
A 48-month term has higher monthly payments but lower total interest. A 60-month term is more affordable monthly but costs more overall. Aim for a payment under 15% of monthly take-home pay.
Yes — dealer financing often packages the loan rate into the overall deal. Always negotiate the vehicle price separately from the financing rate to avoid overpaying.
Calculate your car loan payment with sales tax, trade-in, fees, and total interest.
Track the national average credit card APR from the Federal Reserve G.19 — with payoff calculator.
Estimate your take-home pay after federal, FICA, state taxes, 401(k), and health premiums.