GOBankingRates Reports: 7 Best Auto Loan Rates in Nashville

As car prices rise and auto loan rates remain low, personal finance site GOBankingRates identifies the Nashville banks and credit unions with the lowest rates today

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GOBankingRates

Mar 17, 2014, 09:15 ET

NASHVILLE, Tenn., March 17, 2014 /PRNewswire/ -- Car prices are rising, yet auto loan rates remain low, at least for now; to get behind the wheel, borrowers are taking out larger loans than ever before.

To help buyers take advantage of the lowest auto loan rates today from local institutions, GOBankingRates released a list of the best rates in Nashville.

"Although mortgage rates are increasing, auto loan rates are still low," said Amanda Garcia, of GOBankingRates. "GOBankingRates consistently finds auto loan rates below 3% at many community banks and credit unions."

GOBankingRates also surveyed the average auto loan rates on the city, state and national levels.

Average New Auto Loan Rates:

	Nashville	Tennessee	National
3-Year Auto Loan	3.36% APR	3.57% APR	3.26% APR
4-Year Auto Loan	3.43% APR	3.31% APR	4.01% APR
5-Year Auto Loan	3.05% APR	3.25% APR	3.58% APR

7 Lowest Auto Loan Rates in Nashville

US Community Credit Union is notable for offering the lowest rate in Nashville, along with fast service, an easy application process and no penalties for advance payments.

No. 1- US Community CU's 3-Year and Cornerstone Financial Credit Union's 5-Year Auto Loans: 1.99% APR
No. 2- Bank of America's 5-Year and U.S. Bank's 3-Year Auto Loans: 2.34% APR
No. 3- BB&T's 3-Year Auto Loan: 2.39% APR
No. 4- Fifth Third Bank's 4-Year Auto Loan: 3.08% APR
No. 5- Regions Bank's 3 through 5-Year and Wells Fargo's 4-Year Auto Loans: 3.24%APR
No. 6- SunTrust Bank's 5-Year Auto Loan: 3.34% APR
No. 7- Renasant Bank's 3-Year Auto Loan: 4.99% APR

About This Study

GOBankingRates surveyed base rates for three-, four- and five-year auto loans from financial institutions located in Davidson County as of March 3, 2014. Data was compiled from the GOBankingRates interest rate database, which partners with Informa Research Services to aggregate interest rates from more than 6,000 U.S. banks and credit unions.

Rates are subject to change and accuracy cannot be guaranteed. Other terms and conditions could apply. All rates are shown in APR.

About GOBankingRates

GOBankingRates is a personal finance website that connects consumers with the best interest rates nationwide. Its editors have been featured on U.S. News, Yahoo! Finance, Forbes, The Street, Huffington Post and more.

Contact:
Christina Lavingia
[email protected]
310.297.9233 x118

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SOURCE GOBankingRates