GOBankingRates Reports on 6 Best Auto Loan Rates Available in Cincinnati

By GOBankingRates Staff Mar 9, 2014 Auto Loans 101

Car prices are rising, yet auto loan rates remain low, at least for the moment; in order to get behind the wheel, American borrowers are taking out larger loans today than ever before.

To help car buyers take advantage of the lowest auto loan rates today from local banks and credit unions, GOBankingRates released a list of the best rates in Cincinnati.

“Although rates on some loans, like mortgages, are increasing, auto loan rates are still relatively low and affordable,” said Amanda Garcia, reporter for GOBankingRates. “GOBankingRates consistently finds auto loan rates below 3% at many community banks and credit unions, such as New Horizons Credit Union’s current 2.50% APR rate.”

To provide borrowers benchmarks for comparison shopping, GOBankingRates also surveyed the average auto loan rates on the city, state and national levels.

Average New Auto Loan Rates:

	Cincinnati	Ohio	National
3-Year Auto Loan	3.08% APR	3.28% APR	3.26% APR
4-Year Auto Loan	3.00% APR	3.12% APR	4.01% APR
5-Year Auto Loan	3.59% APR	4.32% APR	3.58% APR

6 Lowest Auto Loan Rates in Cincinnati

New Horizons Credit Union’s auto loan is notable for offering borrowers this low rate for up to 84-month terms.

No. 1- Chase Bank’s 4-Year Auto Loan: 2.03% APR
No. 2– PNC Bank’s 3-Year Auto Loan: 2.34% APR
No. 3– New Horizons Credit Union’s 5-Year and U.S. Bank’s 3-Year Auto Loan: 2.50% APR
No. 4– Fifth Third Bank’s 4-Year Auto Loan: 3.08% APR
No. 5– Advantage Bank and Wells Fargo’s 4-Year Auto Loans: 3.24% APR
No. 6– Huntington Bank’s 3-Year Auto Loan: 3.74% APR

About This Study

Save for Your Future

This study surveyed base auto loan rates for three-, four- and five-year terms from banks and credit unions located in Cincinnati and surrounding Hamilton County as of March 3, 2014. Data was compiled from the GOBankingRates interest rate database, which in partnership with Informa Research Services Inc., aggregates banking and interest rate information belonging to more than 6,000 U.S. banks and credit unions. Rates listed above do not consider short-term, promotional offers or relationship discounts.

Please note that interest rates are subject to change at any time at the discretion of individual banks and credit unions. Other terms and conditions could apply. Although the information has been obtained from the various financial institutions, Informa Research Services cannot guarantee the accuracy.

Contact:

Connie LundegardConnieL@GOBankingRates.com 310.297.9233 x112

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Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.