In 2025, car prices remain high, but that doesn’t mean you need to pay a fortune in interest. Whether you're buying new, used, or refinancing, finding the right car loan deal can save you hundreds—even thousands—over the life of the loan.
From low-interest offers to no-down-payment loans and cashback deals, lenders are competing hard for your business. That means now is the perfect time to shop smart.
đź“Š Current Best Car Loan Deals (June 2025)
Lender/Platform APR From Loan Type Highlights
PenFed Credit Union 5.44% New & Used Cars 90-day no-payment, no application fee
LightStream 6.99% Good Credit Only No fees, rate beat program
Capital One Auto 5.99% New/Used/Refi Easy prequalification, large network
Carvana Varies Online + Financing Car + loan bundle, delivery to door
MyAutoLoan 4.99% Loan Aggregator Compare up to 4 lenders instantly
💡 Pro Tip: Always compare at least 3–4 lenders before deciding. Rates vary by credit score, car type, and term.
đź’° Types of Car Loan Deals You Can Find
🔹 1. Low Interest Rate Offers
Some lenders offer rates as low as 4.99% APR for borrowers with strong credit. This is one of the best ways to reduce your monthly payment and total loan cost.
🔹 2. Zero Down Payment Loans
If you don’t have cash saved for a down payment, certain banks and dealers offer 100% financing. Keep in mind, this may come with higher interest rates.
🔹 3. Cashback Offers
Car manufacturers sometimes offer $500–$2,000 cashback on certain models if you finance through their in-house lender.
🔹 4. Deferred Payment Plans
Some lenders let you delay your first payment for 60–90 days, giving you time to manage other expenses upfront.
🔹 5. Refinance Deals
Already have a car loan? You might qualify for a better rate—saving you hundreds in interest by refinancing.
âś… How to Qualify for the Best Car Loan Deals
Here’s what lenders typically look for:
Credit Score (650+ for best offers)
Stable Employment & Income
Low Debt-to-Income Ratio (DTI)
Down Payment (optional but helpful)
Shorter Loan Term (36–48 months = lower rates)
🔧 Quick Checklist Before Applying
đź“ť Check your credit score
đź’° Set a realistic monthly budget
🔍 Compare at least 3 loan offers
đź“„ Gather documents (ID, income proof, insurance)
đź”’ Avoid long loan terms with high APR
đź“Ť Where to Find the Best Car Loan Deals
🔹 Online Marketplaces:
MyAutoLoan
LendingTree Auto
Bankrate Auto Loan Tool
NerdWallet Car Loan Compare
🔹 Credit Unions:
PenFed
Navy Federal
Local credit unions
🔹 Banks & Lenders:
Capital One
LightStream
Wells Fargo
Ally Financial
🔹 Dealership Financing (Be Cautious!)
Some dealerships offer 0% financing on specific models—but often require excellent credit and short terms.