Rhode island credit union auto loan rates

Rhode Island Credit Union ensures quality services for individuals looking for auto loan offers. Borrowers can purchase new and used cars with terms up to 84 months. Adequate financing of up to 120% auto value is available. The bank provides fixed competitive rates for as low as 2.69% to 6.99% APR.

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Credit score
Which bank has lowest interest rate on auto loan?
Who has the best rate on car loans right now?
Is 3% a good auto loan?

Credit score

Credit history is vital for most financial institutions, including mortgage lenders, utility companies, banks and credit unions, among others. Accordingly, it determines loan rates and terms based on individual creditworthiness. Precise amounts are not disclosed, however.

Find the best Rhode Island 5-Year Auto Loan rates and car loan rates with a loan amount of $25,000. Compare payment and rate to find the best car loan for your vehicle in Rhode Island. Click on the lender links below for more information about each offer.

December 20, 2022 Average Rate: 6.06%

APR (Annual Percentage Rate) is the rate that incorporates monthly compounding charges to express the a finance charges as an annual rate.

Rates provided by BestCashCow are based on loan amount of $25,000 and a variety of factors including credit score and loan to value ratios. For specific requirements please check with the lender. Rates may change at any time.

New Auto Loans - Rates are based on a $25,000 loan in Rhode Island for a purchase transaction of a new vehicle. Discounts indicate the amount of reduction in the Rate for having monthly payments automatically deducted from an account and/or for having other relationship accounts with the institution, expressed as a percentage. Rates are subject to change without notice.

Please Note: The National Credit Union Administration (NCUA) requires all Credit Unions Insured by the National Credit Union Share Insurance Fund (NCUSIF)to file quarterly (5300) data reports. The information above comes from those reports. The deposit and loan rates shown are not the current rates for the Credit Unions shown. Some of these rates change on a daily basis and you must visit each Credit Unions website to get their current rates. The sole purpose of showing this data is to show the relative relationship of each Credit Unions rates versus the average rates of all Credit Unions at both the state and national levels at a specific point in time, quarter end. The data below is from quarter end 6/30/2017.

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*Minimum loan of $5,000 and maximum of $250,000. LTV up to 80%. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $5,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply.

ProgramMaximum TermAnnual
Percentage Rate
(APR)*Monthly payment
per $1,000
borrowedHome Equity Loan Special7 years6.25%$14.7410 years6.50%$11.36

*Minimum loan of $10,000 and maximum of $250,000. LTV up to 80%. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $10,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply.

ProgramMaximum TermAnnual
Percentage Rate
(APR)*Monthly payment
per $1,000
borrowedHome Stretch Home Equity Loan12 years6.25%$9.9022 years6.75%$7.2930 years7.30%$6.86

*Loan requires a first lien equity position. Minimum loan of $10,000 and maximum of $250,000. Rate based on individual creditworthiness and subject to change without notice. 1-4 family owner-occupied properties only. Existing Rhode Island Credit Union loans are eligible with at least $10,000 in new money. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply.

ProgramMaximum TermAnnual
Percentage Rate
(APR)*Monthly payment
per $1,000
borrowedHome Equity Loan
80% - 100% LTV20 years8.25%$8.53Purchase Money Seconds Home Equity Loan20 years8.25%$8.53Purchase Money Seconds Home Equity Loan30 years8.75%$7.88Program Annual
Percentage Rate
(APR)* Home Equity Line of Credit3.99%

*The Annual Percentage Rate (APR) is 3.99% for the first year of the loan. After the first year, the APR will adjust to .51% below Prime Rate. Prime Rate is 7.50% as listed in The Wall Street Journal as of December 15, 2022. Rate based on individual creditworthiness and subject to change without notice. APR will not exceed 21% or fall below 3.00%. Minimum line of credit is $20,000 and maximum of $250,000. Existing Rhode Island Credit Union loans are eligible with at least a $20,000 line increase. 1-4 family owner-occupied properties only. Flood insurance may be required. Applicable trust review fees may apply. Other home equity loan programs, rates and terms available. Certain restrictions apply. We will pay all of the bona-fide third party fees to open the plan. If you close your home equity line of credit plan within the first three (3) years from the opening date, you agree to reimburse us for any bona-fide third party fees we paid on your behalf.

ProgramMaximum TermAnnual Percentage Rate
(APR)*Monthly payment
per $1,000 borrowedNew Motorcycle2020 - 202266 months5.90%$17.782020 - 202278 months6.45%$15.732020 - 202284 months6.95%$15.07Used Motorcycle2020 - 202266 months6.40%$18.012020 - 202278 months7.00%$15.99201966 months6.90%$18.25201978 months7.30%$16.14201866 months7.10%$18.35201878 months7.60%$16.29201766 months7.20%$18.39201778 months7.70%$16.34201666 months7.60%$18.59201566 months7.80%$18.68201466 months8.00%$18.78201366 months8.60%$19.07201254 Months9.90%$23.02

*All rates are subject to change without notice. Rates are the lowest rates available and are determined by individual credit worthiness. Other rates and terms available. The minimum loan amount for the 12 month term is $1,000.

Which bank has lowest interest rate on auto loan?

PenFed Credit Union offers the lowest auto loan annual percentage rates overall. The best used car loan rates start at 2.49% while the best new car loan rate is 2.09%.

Who has the best rate on car loans right now?

#1 myAutoloan: Best Low-rate Option. Starting APR: 3.99% for new vehicles, 4.24% for used vehicles. ... .

#2 Consumers Credit Union: Most Flexible Terms. ... .

#3 AutoPay: Most Well-Rounded. ... .

#4 PenFed Credit Union: Most Cohesive Process. ... .

#5 iLending: Most Popular Marketplace..

Is 3% a good auto loan?

Identifying a good car loan interest rate can be tricky since it depends largely on the individual applicant. That said, yes, 3.5% is a good interest rate for most car loan borrowers. In general, people with average to above-average credit scores can find interest rates from 3% to 4.5% on 36-month car loans.