Page published October 27, 2026
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That gap is bigger than most discounts people spend weeks negotiating. It is also an average gap, not a promise about any one borrower. A lender looks at income, down payment, the car, and the full credit picture, so your own quote can land above or below your tier average.
The sourced table: Experian average APR by credit tier, Q2 2026
These rates come from Experian State of the Automotive Finance Market, Q2 2026, using VantageScore 4.0. The score ranges are Experian tiers. Averages are not quotes: no lender has offered you the average rate, and the average borrower in a tier may have a different loan size, term, or car than you.
| Credit tier | Score range | New car average APR | Used car average APR |
|---|---|---|---|
| Super prime | 781 to 850 | 4.41% | 6.29% |
| Prime | 661 to 780 | 6.15% | 8.81% |
| Near prime | 601 to 660 | 9.71% | 13.93% |
| Subprime | 501 to 600 | 13.52% | 19.10% |
| Deep subprime | 300 to 500 | 16.11% | 21.62% |
Two things stand out. First, used car rates run higher than new car rates in every tier, so a cheaper used car does not always mean cheaper financing. Second, the jump from prime to near prime is the steepest single step in the table: about 3.56 points on a new car and about 5.12 points on a used car. A score just below a tier boundary, such as 655 against the 661 prime line, is where a few months of on time payments and lower card balances can be worth more than haggling over the sticker price.
Worked example: a $30,000 loan over 60 months, tier by tier
The same $30,000, the same 60 months, only the rate changes. Payments are rounded to the nearest dollar and interest to the nearest dollar, so a payment times 60 can differ from the interest plus principal by a few dollars of rounding.
New car loan
| Credit tier | APR | Monthly payment | Interest over 60 months |
|---|---|---|---|
| Super prime | 4.41% | $558 | $3,484 |
| Prime | 6.15% | $582 | $4,925 |
| Near prime | 9.71% | $633 | $7,988 |
| Subprime | 13.52% | $691 | $11,436 |
| Deep subprime | 16.11% | $731 | $13,878 |
Used car loan
| Credit tier | APR | Monthly payment | Interest over 60 months |
|---|---|---|---|
| Super prime | 6.29% | $584 | $5,042 |
| Prime | 8.81% | $620 | $7,199 |
| Near prime | 13.93% | $697 | $11,818 |
| Subprime | 19.10% | $780 | $16,792 |
| Deep subprime | 21.62% | $822 | $19,326 |
Read the used column against the new column for the same tier. A prime borrower pays about $2,274 more interest on the used loan than on the new loan for the same $30,000. A deep subprime borrower pays about $5,448 more. The used car still usually wins overall because its price and value loss are lower, but the financing half of that comparison is not free.
Formula
The table is Experian State of the Automotive Finance Market, Q2 2026, using VantageScore 4.0. New car average APR by tier: super prime, 781 to 850, 4.41%; prime, 661 to 780, 6.15%; near prime, 601 to 660, 9.71%; subprime, 501 to 600, 13.52%; deep subprime, 300 to 500, 16.11%. Used car average APR by tier: super prime 6.29%; prime 8.81%; near prime 13.93%; subprime 19.10%; deep subprime 21.62%. Used car rates run higher than new car rates in every tier, by about 1.88 points at super prime and about 5.51 points at deep subprime.
The worked example is the same $30,000 over the same 60 months, only the rate changes. New car interest over 60 months: super prime $3,484 at 4.41% and a $558 payment; prime $4,925 at 6.15% and $582; near prime $7,988 at 9.71% and $633; subprime $11,436 at 13.52% and $691; deep subprime $13,878 at 16.11% and $731. The gap from the top tier average to the bottom tier average is $13,878 minus $3,484, which is about $10,394 in interest on a new car.
Used car interest over 60 months: super prime $5,042 at 6.29% and a $584 payment; prime $7,199 at 8.81% and $620; near prime $11,818 at 13.93% and $697; subprime $16,792 at 19.10% and $780; deep subprime $19,326 at 21.62% and $822. The gap from the top tier average to the bottom tier average is $19,326 minus $5,042, which is about $14,284 in interest on a used car. Payments are rounded to the nearest dollar and interest to the nearest dollar, so a payment times 60 can differ from the interest plus principal by a few dollars of rounding, and the interest figures are stated as printed, not decomposed from the payments.
The tier steps that matter most: the jump from prime to near prime is the steepest single step in the table, about 3.56 points on a new car and about 5.12 points on a used car. A prime borrower pays about $2,274 more interest on the used loan than on the new loan for the same $30,000, and a deep subprime borrower pays about $5,448 more. Moving from near prime to prime on a $30,000, 60 month new car loan cuts interest from about $7,988 to about $4,925, a saving of about $3,063.
What this means for the decision in front of you
If buying can wait a few months and your score sits near a tier boundary, waiting can pay more than any other single move in the deal. If buying cannot wait, three things still help: a bigger down payment, which shrinks the amount charged interest; quotes from more than one kind of lender, since banks, credit unions, and dealer arranged financing do not all price the same borrower the same way; and a shorter term where the payment still fits, since fewer months at a high rate means less interest even when the rate itself does not move.
Our affordability page now uses these Experian averages for its credit tiers, and its calculator default APR is unchanged at 8%. This page is the sourced reference behind those tiers: use the table above when you want published averages, and use your own written offer when you want your number. For what a loan costs month by month, see how much your car payment will be, and for the case where a rate drop later makes a new loan worthwhile, see should you refinance your car loan.
Figures: Experian State of the Automotive Finance Market, Q2 2026, VantageScore 4.0 tiers, as published by Experian. Average new car APR overall 6.35% and average used car APR overall 11.19% in the same report. Interest figures are Driveonomics arithmetic on a $30,000, 60 month loan at each tier average rate, with no fees or taxes included.
Educational estimates only, not financial, tax, legal or insurance advice. Every figure on this page is a typical example worked from the inputs stated on the page, not a quote for a specific car, loan, or driver. Your rate, insurance, fuel use, and resale value will move your total. See Terms.
Calculation transparency
Scope. One sourced reference table, Experian Q2 2026 average APR by credit tier, worked through one loan, $30,000 over 60 months, tier by tier, for new and used cars.
Rules and time period. Experian State of the Automotive Finance Market, Q2 2026, VantageScore 4.0 tiers; average new car APR overall 6.35% and average used car APR overall 11.19% in the same report; interest figures are Driveonomics arithmetic on a $30,000, 60 month loan at each tier average rate, with no fees or taxes included; payments rounded to the nearest dollar and interest to the nearest dollar.
Scope and limitations. Educational estimate only, not financial, tax, legal or insurance advice. Averages are not quotes: no lender has offered you the average rate, and the average borrower in a tier may have a different loan size, term, or car than you. A lender looks at income, down payment, the car, and the full credit picture, so your own quote can land above or below your tier average. Insurance quotes, gas prices, and local rates vary by driver and address. Get a real quote for the same car, coverage, and loan before you decide.
Source links checked November 6, 2026. Figures: Experian State of the Automotive Finance Market, Q2 2026, VantageScore 4.0 tiers, as published by Experian. Average new car APR overall 6.35% and average used car APR overall 11.19% in the same report. No source is named only, both Experian pages below are linked.
Primary sources: Experian auto loan rates and financing 2026; Experian average car payment. How the numbers are calculated is written down on the methodology page, and every source is listed on the sources page.
Definitions
APR. Annual percentage rate, the yearly interest rate on the loan. On this page, the Experian Q2 2026 averages run from 4.41% to 16.11% on new cars and 6.29% to 21.62% on used cars.
Credit tier. A band of credit scores with its own average rate. On this page, five tiers from super prime at the top to deep subprime at the bottom.
VantageScore. The credit scoring model Experian uses for these tiers, version 4.0. The score ranges are Experian tiers.
Super prime. The top tier, scores 781 to 850. Average APR 4.41% new and 6.29% used in Q2 2026.
Prime. Scores 661 to 780. Average APR 6.15% new and 8.81% used in Q2 2026.
Near prime. Scores 601 to 660. Average APR 9.71% new and 13.93% used in Q2 2026.
Subprime. Scores 501 to 600. Average APR 13.52% new and 19.10% used in Q2 2026.
Deep subprime. The bottom tier, scores 300 to 500. Average APR 16.11% new and 21.62% used in Q2 2026.
Questions people actually ask
How much more interest do I pay with a lower credit score?
On a $30,000 loan over 60 months at Experian Q2 2026 average rates, interest runs from about $3,484 at the super prime new car average of 4.41% to about $13,878 at the deep subprime new car average of 16.11%, a gap of about $10,394. On a used car loan the same $30,000 runs from about $5,042 at 6.29% to about $19,326 at 21.62%, a gap of about $14,284. These are averages, not quotes for any one borrower.
What are the average car loan rates by credit score in Q2 2026?
From Experian State of the Automotive Finance Market, Q2 2026, using VantageScore 4.0: super prime (781 to 850) 4.41% new and 6.29% used; prime (661 to 780) 6.15% new and 8.81% used; near prime (601 to 660) 9.71% new and 13.93% used; subprime (501 to 600) 13.52% new and 19.10% used; deep subprime (300 to 500) 16.11% new and 21.62% used.
Are these Experian averages the rate I will be offered?
No. These are averages across many borrowers in each tier. Your own rate depends on the lender, the car, the term, your down payment, and your full credit picture, and different lenders price the same borrower differently. Treat the table as a benchmark for comparing offers, and treat a written offer as your number.
Why are used car loan rates higher than new car loan rates?
In Experian Q2 2026 data, used rates run higher than new rates in every tier, by about 1.88 points at super prime and about 5.51 points at deep subprime. Lenders price used cars higher because the car is older, its value is less certain, and the loan is secured by a car that has already lost part of its value. A cheaper used car can still cost less overall, but its financing is not cheaper.
Is it worth waiting to buy until my credit score improves?
It can be, especially near a tier boundary. Moving from near prime to prime on a $30,000, 60 month new car loan cuts interest from about $7,988 to about $4,925 at Q2 2026 averages, a saving of about $3,063. If buying cannot wait, a bigger down payment, quotes from more than one kind of lender, and a shorter term that still fits can all reduce what interest costs.
Related: A lower score can push you toward a longer term. See whether an 84-month loan is a good idea.
Related: Paying early can cut the interest a low score adds. See what paying off your car loan early saves.
Related: Got a quote with a rate on it? Check your quote line by line.