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Car loans in North Carolina

Capped rates and a variety of local lenders make it easy to find a good deal in the Old North State.

Compare car loans available in North Carolina

Laws in North Carolina favor borrowers. Take the time to explore your local options and shop for the lowest APR — it could save you hundreds in interest.

Name Product Filter Values Minimum credit score APR Loan term Requirements
PenFed Auto Loans
Starting at 1.79%
3 to 7 years
Active membership with PenFed
Low APR car loans from a well-known credit union.
No minimum credit score
3.9% to 27.9%
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates. Car Loans
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
SuperMoney Auto Purchase Loans Marketplace
Varies by lender
Varies by lender
Fair to excellent credit, an income source, US citizen or permanent resident, 18+ years old
Find an offer and get rates from competing lenders without affecting your credit score.
Auto Credit Express Car Loans
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.

Compare up to 4 providers

Getting approved for an auto-loan in North Carolina

The North Carolina Commissioner of Banks has set the maximum APR for all loans under $25,000 at 16%. There's no maximum APR for loans over $25,000. There's also a $250 or lower cap on origination fees for loans under $100,000.

But the application process is largely the same as any other state. You should compare lenders before you visit the dealership to secure the best rate — most lenders offer a preapproval period of 30 days. If you're approved for a loan, your lender will likely do a hard check of your credit to confirm you qualify.

If you aren't approved for a loan, your lender should provide you with a letter that specifies why it rejected your application.

Banks and credit unions in North Carolina that offer auto loans

There are a wide variety of national banks — including Bank of America — that offer auto loans in North Carolina. But you may be able to find more competitive rates with local banks and credit unions.

LenderAvailable financingAPR

Bank of America

New and used vehicles, loan refinancing

As low as 2.59%

BNC National Bank

New and used vehicles, loan refinancing, recreational vehicles

Not stated

Coastal Credit Union

New and used vehicles

As low as 2.5%

First Bank

New and used vehicles, lease buyouts, loan refinancing

Not stated

Mountain Credit Union

New and used vehicles, loan refinancing

Not stated

North Carolina State Employees' Credit Union (NCSECU)

New and used vehicles

As low as 3.75%

Piedmont Advantage Credit Union

New and used vehicles, recreational vehicles

As low as 2.75%

Self-Help Credit Union

New and used vehicles, motorcycles

As low as 3%

Bottom line

North Carolina has laws in place to protect borrowers of all kinds. With rates capped on loans under $25,000, it makes sense to compare car loan options before you visit a dealership to find the best rate.

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