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New Auto Loan Rates

Get a low new auto loan rate and drive with confidence

Wasatch Peaks Credit Union puts you in control and in the driver’s seat with terms that fit your lifestyle, and competitive rates that will leave your budget happy.

Auto Loan Rates

Loan
Term
APR
Auto
36 Months
5.74%
Auto
48 Months
5.99%
Auto
60 Months
6.24%
Auto
72 Months
6.49%
Auto
84 Months
7.24%

Save Money With A Wasatch Peaks Credit Union Auto Loan

Choosing our auto loan products and services could be your first step toward monthly savings. Here's how:

  • Low auto loan rates maximize every dollar spent.
  • Flexible term lengths fit every time frame and budget.
  • Fast approval times and same-day services are always available.
  • Our First Time Auto Buyer Program is ready for new buyers.
  • Extended Warranty Protection options are offered through Route 66.
  • Optional GAP insurance policies exist for every car and everyone.

How New Auto Loan Rates Impact You

New auto loan rates are often lower than used or classic vehicle rates, making them a great deal at any time. However, a low monthly price is not the only consideration you should have for your next loan. Look for a new auto loan rate that is:

  • Compatible with your monthly budget spread. Do not look to overextend your funds or current monthly payments.
  • Comparable to your desired term lengths. Be sure that the time you’ll spend paying off your vehicle is not shorter or longer than you desire.
  • Not conditional on a higher down payment. If you are not making a sizable down payment on your new vehicle, you should compare quoted rates with all factors included, especially increased interest rates.

 

 

New Car Loan Frequently Asked Questions

  • What’s considered a new car loan?

    A new car loan is a personal loan that’s used to finance a new vehicle bought fresh off the lot. A new car by this definition is one that hasn’t been owned by another person before. The most driving it has seen—if any—is some test driving from potential customers.

  • Why are new car loan rates cheaper than used?

    New cars depreciate at a much more predictable rate than used, and the types of buyers who opt for new vehicle purchases are often more reliable borrowers than those who tend to buy used. Because of those factors, new car loans usually have lower rates than used car loans.

  • Can I refinance a new car loan?

    Absolutely! If your credit or financial situation changed since you first purchased your vehicle, you can refinance for more affordable rates or payments, or even increase your monthly payment to pay off your vehicle faster.

  • Will a new car loan affect my credit score?

    It depends on several factors, but a new car loan can affect your credit score. On one hand, it will increase your credit utilization, which could cause a slight dip. On the other hand, making car payments on time will only build your credit in the long run, so it depends on how responsible of a borrower you are.

*Annual Percentage Rate (APR). On Approved Credit (OAC). This is our best rate; your rate may be different depending on credit history and underwriting criteria. Rates subject to change based on vehicle loan-to-value and term. Limited time offer.