Members in Alaska, Michigan and Oregon may have an edge over others when it comes to shopping for a vehicle.

According to rate tracking firm GoBankingRates.com, the three states had the lowest auto loan rates in the country as of July 24, the latest period tracked. Michigan led the pack at 3.03% followed by a tie between Alaska and Oregon at 3.04%.

Using data compiled from its interest rate database and aggregating rates from more than 4,000 U.S. financial institutions, GoBankingRates.com said it examined base rates offered by credit unions and banks on new car loan products using a statewide average of rates to determine ranking.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lending