See real rates from Washington State borrowers, updated daily. Jump to the section that matches your situation, new or used car, then see what rates look like right now for your credit score. When ready, the Washington Best Car Lenders data can also help.
Washington New Car Loan Rates –
| Credit Score | |||||
| 750+ | 700–749 | 650–699 | 600–649 | ||
| Nationally | 5.88% | 7.26% | 6.43% | 7.58% | |
| Washington | 5.85% | 6.18% | 6.43% | 7.61% | |
| Credit Unions | 5.45% | 5.78% | 6.08% | 7.31% | |
| Online lenders | 5.55% | 5.88% | 6.18% | 7.41% | |
| Banks | 5.85% | 6.18% | 6.43% | 7.61% | |
| Dealers | 4.83% | 6.18% | 7.93% | 10.61% | |
| Under $30,000 | 48 months | 4.44% | 4.69% | 4.94% | 5.69% |
| 66 months | 4.86% | 5.12% | 5.37% | 6.13% | |
| 78 months | 5.36% | 5.63% | 5.88% | 6.65% | |
| 84 months | 4.69% | 4.97% | 5.22% | 6.00% | |
| $30,000–$60,000 | 48 months | 5.61% | 5.91% | 6.16% | 7.31% |
| 66 months | 5.03% | 5.34% | 5.59% | 6.75% | |
| 78 months | 5.48% | 5.80% | 6.05% | 7.22% | |
| 84 months | 5.85% | 6.18% | 6.43% | 7.61% | |
| Over $60,000 | 48 months | 5.38% | 5.73% | 5.98% | 7.48% |
| 66 months | 5.74% | 6.10% | 6.35% | 7.86% | |
| 78 months | 6.26% | 6.63% | 6.88% | 8.40% | |
| 84 months | 6.60% | 6.98% | 7.23% | 8.76% |
Source: MFP’s Community Car Loan Rates Survey from the last 30 days.
New Car Loan in Washington
Washington's new car rates are above the national average across most credit scores. If you have excellent credit (750+), rates start around 4.44% for affordable cars on shorter loans. Credit scores in the 600s push rates into the 5.69%-8.76% range, and they climb higher for expensive vehicles or longer loan terms.
Your Credit Score Makes the Biggest Difference
A borrower with a 750+ credit score financing a $40,000 car over 48 months pays around 5.61%. Someone with a score between 600-649 on the same loan pays 7.31%—a 1.70% percentage point gap.
That difference grows on longer loans. Stretch that same loan to 84 months and the rate jumps to 5.85% for excellent credit and 7.61% for fair credit.
More Expensive Cars Mean Higher Rates
Washington lenders charge less for cheaper cars. A borrower with excellent credit gets 4.44% on a 48-month loan for a car under $30,000. That same person pays 5.61% for a car in the $30,000-$60,000 range, and 5.38% for cars over $60,000.
The pattern holds across all credit scores. A car priced over $60,000 on an 84-month loan costs 6.60% for excellent credit and 8.76% for fair credit.
Longer loans cost more, but Washington's rate penalties are smaller than many states. Extending from 48 months to 84 months adds 0.24%-0.30% percentage points.
Dealers Win on Rates for Excellent Credit
Washington auto dealers have the lowest rates if you have a 750+ credit score with a 4.59% average, they're using manufacturer incentives to beat credit unions (5.21%) and banks (5.61%).
That advantage vanishes quickly. With a score in the 700s dealer rates match bank rates at 5.91%. Drop into the 600s and dealers become the most expensive option at 10.31%—nearly 3.30% percentage points higher than credit unions.
MFP Tip: Credit unions in Washington offer the most consistent rates across all credit scores.
Curious about car insurance price in Washington? See real Washington car insurance rates shared by our community.
Who are recommended car lenders? See Washington best car loan lenders shared by our community.
Washington Used Car Loan Rates –
| Credit Score | |||||
| 750+ | 700–749 | 650–699 | 600–649 | ||
| Nationally | 8.29% | 9.46% | 11.23% | 11.23% | |
| Washington | 7.13% | 8.21% | 10.17% | 11.21% | |
| Credit Unions | 6.73% | 7.81% | 9.82% | 10.91% | |
| Online lenders | 6.83% | 7.91% | 9.92% | 11.01% | |
| Banks | 7.13% | 8.21% | 10.17% | 11.21% | |
| Dealers | 6.11% | 8.21% | 11.67% | 14.21% | |
| Under $15,000 | 48 months | 7.85% | 8.81% | 10.77% | 11.80% |
| 66 months | 8.23% | 9.21% | 11.17% | 12.19% | |
| 78 months | 8.91% | 9.90% | 11.86% | 12.88% | |
| 84 months | 9.59% | 10.59% | 12.55% | 13.57% | |
| $15,000–$25,000 | 48 months | 7.63% | 8.64% | 10.60% | 11.62% |
| 66 months | 8.33% | 9.35% | 11.31% | 12.33% | |
| 78 months | 8.86% | 9.89% | 11.85% | 12.87% | |
| 84 months | 9.55% | 10.59% | 12.55% | 13.57% | |
| $25,000–$40,000 | 48 months | 7.64% | 8.69% | 10.65% | 11.68% |
| 66 months | 8.26% | 9.32% | 11.28% | 12.31% | |
| 78 months | 8.95% | 10.02% | 11.98% | 13.02% | |
| 84 months | 7.13% | 8.21% | 10.17% | 11.21% | |
| Over $40,000 | 48 months | 8.39% | 9.48% | 11.44% | 12.47% |
| 66 months | 8.88% | 9.98% | 11.94% | 12.97% | |
| 78 months | 7.00% | 8.11% | 10.07% | 12.00% | |
| 84 months | 7.67% | 8.79% | 10.75% | 12.68% |
Source: MFP’s Community Car Loan Rates Survey from the last 30 days.
Used Car Loan in Washington
Used car financing in Washington costs more than new car loans but runs above the national average. Rates start around 7.85% for excellent credit on cheaper cars with short loans, but climb into the low teens for lower credit scores on longer terms.
Credit Scores Hit Harder on Used Car Loans
Lenders charge more as your credit drops, and that penalty shows up clearly in used car rates. Finance a used car under $15,000 over 48 months with excellent credit (750+) and you'll pay 7.85%. A score in the 600-649 range on that same loan costs 11.80%.
Buy something pricier—say, a used car in the $25,000-$40,000 range—and stretch it to 84 months, and you're looking at 7.13% for excellent credit or 11.21% with a score in the 600s.
Washington's Used Car Rates Run Higher Than Most
Here's a heads-up for Washington buyers: used car rates here run above the national average. A used car under $15,000 on a 48-month loan with excellent credit costs 7.85% in Washington compared to 7.72% nationally.
Even with fair credit, Washington borrowers see higher rates. That same loan with a 600-649 score costs 11.80% in Washington versus 10.66% nationally —a difference that costs Washington buyers more.
Long Loans Cost You More on Used Cars
Stretching a used car loan adds to your rate. Take a used car under $15,000 with excellent credit. A 48-month loan costs 7.85%. Push that to 84 months and you're paying 9.59%—a 1.74% percentage point jump.
For cars in the $25,000-$40,000 range, longer terms offer better rates. Excellent credit on a 48-month loan costs 7.64%, while an 84-month loan drops to 7.13%.
Credit Unions Lead on Used Car Rates
Dealers compete only at the top. With excellent credit, dealer rates average 6.11%—the best in the market. But drop into fair credit territory and dealers charge 14.21%, making them the most expensive option by far.
Credit unions offer the best rates on used cars in Washington for most borrowers. At 6.73% for excellent credit, they beat online lenders (6.83%) and banks (7.13%), and they stay competitive at 10.91% for fair credit—far better than dealers.
MFP Tip: Washington's used car market is competitive. If you have excellent credit, get a dealer quote first. Otherwise, credit unions offer your best rates.
What Affects Your Car Loan Rate in Washington?
Lenders look at more than just the rate tables when they set your rate. Here’s what else matters for both new and used car loans.
- Credit score
- Loan length
- Down payment
- Vehicle age and mileage
- Income vs. debts
- Loan-to-value
How to Get the Best Car Rate in Washington
Getting the lowest rate on your Washington car loan takes some strategy. Follow these steps to secure the best deal possible.
Check your credit score. Also look at its report for errors before applying. Dispute any inaccuracies that could lower your score unnecessarily.
Get quotes from different lenders. Include credit unions, banks, and online lenders. Compare their offers side by side.
Get preapproved. It’ll strengthen your negotiating position at dealerships and know your budget beforehand.
Take the shortest loan you can afford. You’ll pay less interest over time and build equity faster in your vehicle.
Put down as much as you can. This will reduce your loan amount and demonstrate financial responsibility to lenders.
Shop for rates. Do it in a short window to minimize the impact on your credit score from multiple inquiries.
MFP Tip: Washington credit unions consistently offer competitive rates across all credit tiers, making them an excellent starting point for your car loan search regardless of your credit situation.
FAQs – Washington Car Loan
Do credit unions offer better rates than banks in Washington?
Yes, credit unions consistently offer lower rates than banks in Washington. For new car loans with excellent credit, credit unions average 6.60% compared to 7.00% at banks.
The advantage holds for used cars too, with credit unions offering 9.24% versus 9.64% at banks for excellent credit borrowers.
This pattern continues across most credit score ranges, making credit unions a strong first choice for Washington car buyers.
How much does my credit score affect my rate?
Your credit score dramatically impacts your car loan rate in Washington. For new cars, excellent credit (750+) borrowers pay 7.00% while fair credit (600-649) borrowers pay 8.76%.
The difference is even more significant for used cars, where excellent credit gets 9.64% and fair credit pays 11.72%.
This means improving your credit score by even 50-100 points could save you thousands over the life of your loan.
Should I get a 48-month or 72-month loan?
Shorter loan terms almost always mean lower interest rates in Washington. For a $30,000-$60,000 new car with excellent credit, 48-month loans carry 6.40% rates.
Compare this to 66-month loans at 6.60% and 84-month loans at 7.00% for the same vehicle and credit profile.
While longer terms mean lower monthly payments, you’ll pay significantly more interest over the life of the loan.
Why are Washington’s rates lower than the national average?
Washington’s competitive lending market and strong credit union presence help drive rates below national averages for certain credit profiles.
For fair credit borrowers, Washington’s 8.76% new car rate beats the 9.53% national average significantly.
Used car rates show similar advantages, with fair credit borrowers paying 11.72% in Washington versus 14.37% nationally.
Can I get a car loan with bad credit in Washington?
Yes, Washington lenders do work with borrowers who have credit challenges, though rates will be higher.
For used cars under $15,000, fair credit borrowers can find rates around 7.58% for 48-month terms at credit unions.
Expect to provide proof of income and potentially make a larger down payment if your credit score falls below 600.
When should I refinance my car loan?
Consider refinancing when your credit score has improved significantly since you got your original loan.
If rates have dropped by 1% or more, or if you initially financed through a dealership and can now qualify for credit union rates.
Wait until you have at least 20% equity in your vehicle and check for any prepayment penalties before refinancing.
Next Steps for Washington Car Buyers
Car loan rates change monthly based on market conditions and Federal Reserve decisions.
The rates shown here reflect current Washington averages, but your personal rate will depend on your specific credit profile and lender.
Compare offers from at least three different lender types before making your decision.
Check our complete Car Loan Guide for more detailed information about the car buying process and financing options.
Use our Car Loan Calculator to estimate your monthly payments based on Washington’s current average rates.