The average rates for five-year indirect, new auto loans are nearly identical at credit unions and banks, according to one rate tracking firm.
As of May 22, Informa Research Services found that the average rate for indirect, five-year, new auto loans for those with credit scores between 680 and 719 was 4.93% at credit unions and 4.95% at banks.
Credit unions had a slightly better edge for borrowers with credit scores between 650 and 679 on the same type of loans at 6.76%. At banks, the average rate was 6.64%.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
