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The Best Auto Loan Rates Right Now (May 2023 Updates)

October 4, 2022

Rates are changing, but deals can still be had when financing a new car. It’s getting more expensive to borrow money, so the lowest APR finance deals are likely to vanish in months to come. If you’re thinking of financing a new car, loan interest rates are on the rise. These are the best new car finance deals in May 2023. 

The Best Auto Loan Rates For New Cars (May 2023)

We’ve compiled every manufacturer’s financing incentives below, but these are the BEST loan deals with the LOWEST auto loan rates this month. 

  • Chevrolet: As low as 0.0% APR for most models.
  • Ford: As low as 0.0% APR for most models.
  • Honda: APR as low as 0.9% for most models.
  • Nissan: As low as 0.0% APR for most models, including the Altima, Rogue, Pathfinder, Titan, Murano LEAF, Versa, Kicks and more.
  • Hyundai: As low as 0.0% APR for most models.
  • Mazda: As low as 0.0% APR for most models.
  • Toyota: As low as 0.0% APR for most models.

Let’s dive into every automaker’s financing offers for May.

Buick Cash and Financing Deals

2023 models

Enclave, Encore GX 

Cash rebate: $250-$1000

Finance offer: 3.9-11.7%

Encore, Envision 

Finance offer: 3.9-11.7%

See details at buick.com

BMW Cash and Financing Deals

bmw financing rates

2023 models

Models: BMW 8 Series, 3 Series, 5 Series, i4, i7, iX, X5, 4 Series, X3

Cash rebate: $0-$3,000

Finance offer: 4.5-13.5% APR.

Models: 2 Series, 7 Series, M2, M3, M4, M5, M8, X1, X2, X3 M, X4, X4 M, X5 M, X6, X6 M, X7, XM, Z4

Finance offer: 4.5-13.5% APR.

Learn more at BMWUSA.com

See BMW listings near you.

Cadillac Cash and Financing Deals

In May, Cadillac has these offers for new cars:

2023 models

XT5, XT6 

Cash rebate: $500-$1,000 

Finance offer: 3.4-7.8%

CT4, CT5 

Cash rebate: $0-$750 

Finance offer: 3.4-7.8%

XT4 

Cash rebate: $500 

Finance offer: 3.4-7.8%

Escalade, Escalade ESV, Lyriq 

Finance offer: 3.4-7.8%

Negotiate financing with more leverage when you bring your own outside financing offer from a credit union. Get pre-qualified with CarEdge-approved credit unions today.

See Cadillac listings near you.

Chevrolet Cash and Financing Deals

In May, these are the Chevrolet financing offers:

2023 models

Bolt EUV, Bolt EV 

Cash rebate: $1000-$5000 

Finance offer: 0-12.8%

Blazer, Equinox, Malibu, Traverse

Cash rebate: $1000-$1250

Finance offer: 0-12.8%

Camaro, Silverado 2500HD, Silverado 3500HD

Cash rebate: $500-$1000 

Finance offer: 0-12.8%

Colorado, Corvette, Corvette Z06, Express Cargo Van, Express Passenger, Silverado 1500, Suburban, Tahoe, Trailblazer

Finance offer: 0-12.8%

Learn more at chevrolet.com

See Chevrolet listings near you.

Chrysler Cash and Financing Deals

In May, Chrysler has the following financing deals:

2023 models

300, Pacifica, Voyager

Cash rebate: $0-$1000 

Finance offer: 7.2%

2022 models

300, Pacifica, Voyager

Cash rebate: $0-$2500 

Finance offer: 7.2%

See Chrysler listings near you.

Dodge Cash and Financing Deals

2023 models

Durango, Challenger, Charger, Hornet

Cash rebate: $0-$2500 

Finance offer: 7.2%

2022 models

Durango, Challenger, Charger

Cash rebate: $0-$3500 

Finance offer: 7.2%

See Dodge listings near you.

Ford Cash and Financing Deals

ford auto loan rates

In May, Ford is advertising these cash and financing offers:

2023 models

Bronco, Bronco Sport, E-Transit Cargo Van, Edge, Escape, Expedition, Expedition Max, Explorer, F-150, F-150 Lightning, Maverick, Mustang, Mustang Mach-E, Ranger, Super Duty F-250 SRW, Super Duty F-350 DRW, Super Duty F-350 SRW, Transit Van*, Transit Wagon* 

Finance offer: 0-9.9%

2022 models

Bronco, Bronco Sport, EcoSport, Edge, Expedition, Expedition Max, F-150, F-150 Lightning, Maverick, Mustang, Mustang Mach-E, Ranger, Super Duty F-250 SRW, Super Duty F-350 DRW, Super Duty F-350 SRW, Transit Cargo Van, Transit Connect Van, Transit Connect Wagon,

Finance offer: 0-7.9%

Learn more about Ford lease deals here.  

See Ford listings near you.

GMC Cash and Financing Deals

In May 2023, GMC has a few financing offers:

2023 models
Acadia, Terrain
Cash rebate: $500-$1000
Finance offer: 0.9-12.4%

Terrain
Cash rebate: $0-$500
Finance offer: 2.9-12.4%

Canyon, Hummer EV, Savana Cargo Van, Savana Passenger, Sierra 1500, Sierra 2500HD, Sierra 3500HD, Yukon, Yukon XL
Finance offer: 0.9-12.4%

Learn more.

See GMC listings near you.

Honda Cash and Financing Deals

Honda financing deals

In May, Honda is advertising these offers:

Accord (incl. Hybrid), Civic Hatchback, Civic Sedan, CR-V, HR-V, Odyssey, Passport, Pilot, Ridgeline 

Finance offer: 0.9-10.7%

Learn more at honda.com

See Honda listings near you.

Hyundai Cash and Financing Deals

In May, Hyundai is offering as low as 0% APR for several models:

2023 models

Hyundai Nexo 

Cash rebate: $0-$25000, Finance offer: 0-9.0%

Ioniq 5 

Cash rebate: $0-$3750, Finance offer: 0-9.0%

Santa Fe, Sonata 

Cash rebate: $0-$1250, Finance offer: 0-9.0%

Tucson 

Cash rebate: $0-$750, Finance offer: 0-9.0%

Santa Cruz 

Cash rebate: $0-$1500, Finance offer: 0-9.0%

Elantra, Kona, Kona EV 

Cash rebate: $0-$750, Finance offer: 0-9.0%

Venue 

Cash rebate: $0-$500, Finance offer: 0-9.0%

Ioniq 6, Palisade, Santa Fe Hybrid, Santa Fe Plug-In Hybrid, Sonata Hybrid, Tucson Hybrid, Tucson Plug-In Hybrid 

Finance offer: 0-9.2%, no cash rebate

Learn more at hyundaiusa.com

See Hyundai listings near you.

Jeep Cash and Financing Deals

This month, these are Jeep’s incentives and offers:

2023 models

Grand Cherokee, Grand Cherokee L, Wrangler 2-Door, Wrangler 4-Door 

Cash rebate: $0-$4000 

Finance offer: 1.9-7.9%

Gladiator, Compass, Cherokee, Renegade

Cash rebate: $0-$3,000 

Finance offer: 1.9-7.9%

Grand Wagoneer, Grand Wagoneer L, Wagoneer, Wagoneer L 

Finance offer: 1.9-7.9%, no cash rebate

See Jeep listings near you.

Kia Cash and Financing Deals

kia financing deals

2023 models

Kia Niro EV, Stinger 

Cash rebate: $0-$2500

Finance offer: 2.9-10.0%

Sorento 

Cash rebate: $0-$750 

Finance offer: 2.9-10.0%

Forte, Soul 

Cash rebate: $0-$500

Finance offer: 2.9-10.0%

K5, Rio, Rio 5-Door 

Cash rebate: $0-$300 

Finance offer: 2.9-10.0%

Carnival, EV6, Niro, Niro Plug-In Hybrid, Seltos, Sorento Hybrid, Sorento PHEV, Sportage (incl. Hybrid), Sportage PHEV, Telluride 

Finance offer: 2.9-10.0%

Learn more at kia.com

See Kia listings near you.

Lexus Cash and Financing Deal

2023 models

UX 

Cash rebate: $0-$750, Finance offer: 4.9-11.9%

ES, GX, IS, LC, LS, LX, NX, RC, RC F, RX, RZ 

Finance offer: 4.9-11.9%

See Lexus listings near you.

Mazda Cash and Financing Deals

In May, Mazda has great financing offers:

2023 models

Mazda CX-9, CX-30, CX-50

Cash rebate: $500-$2000

Finance offer: 0-13.3%

CX-5, Mazda3 Hatchback, Mazda3 Sedan, MX-30, MX-5 Miata, MX-5 Miata RF 

Finance offer: 0-13.3%

See Mazda listings near you.

Nissan Cash and Financing Deals

In May 2023, Nissan has these cash and financing deals:

2023 models

Frontier, Murano, Rogue, Titan, Titan XD

Cash rebate: $0-$500 

Finance offer: 0-8.8%

Altima, Ariya, Armada, GT-R, Kicks, Leaf, Maxima, Pathfinder, Sentra, Versa Sedan, Z

Finance offer: 0-8.8%. 

See Nissan listings near you.

Ram Cash and Financing Deals

In May, Ram has these active financing offers:

2023 models

1500, 1500 Classic, 2500, 3500

Cash rebate: $0-$2250

Finance offer: 1.9-7.2%

2022 models

1500, 1500 Classic, 2500, 3500

Cash rebate: $0-$2250

Finance offer: 0.9-7.2%

See Ram listings near you.

Subaru Cash and Financing Deals

Subaru financing deals 2022

2023 models

Ascent, BRZ, Crosstrek (incl. Hybrid), Forester, Impreza*, Legacy, Outback, Solterra, WRX

Finance offer: 3.9-6.4%

See which models and trims qualify at subaru.com.

See Subaru listings near you.

Toyota Cash and Financing Deals

In May, Toyota has these APR deals for well-qualified buyers:

2023 models

Mirai (hydrogen-powered – sold in California only)

Cash rebate: $0-$25,000, Finance offer: 0-11.9%

Tacoma

Cash rebate:  $0-$500, Finance offer: 0-11.9%

4Runner, BZ4X, Camry, C-HR, Corolla*, Corolla Cross, Crown, GR86, GR Corolla, Highlander, Prius, Prius Prime, RAV4, RAV4 Prime, Sequoia, Sienna, Supra, Tundra 2WD, Tundra 4WD, Venza 

Finance offer: 0-11.9%

See Toyota listings near you.

Volkswagen Cash and Financing Deals

2023 models

Volkswagen Arteon, Atlas, Atlas Cross Sport, Golf GTI, Golf R, ID4, Jetta, Passat, Taos, Tiguan 

Finance offer: 4.9-$11.5%

See Volkswagen listings near you.

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4 Comments

  1. Amy Bamerick

    I’ve owned my 2015 Nissan murano SL since March 2016 I bought it with 8,000 miles. I’ve taken great care of it, followed the manual service schedule, the car still looks new. It has 128000 miles, with no mechanical issues. I’ve gotten a online appraisal from west herr in Lockport NY 11,500 I got an email from Victor telling me please call him, he thinks he might get me even more. When I called he wasn’t working, his partner told me to take it to our local west herr dealership for in person appraisal. When I went there I was told kbb NOT the same appraisal from dealer site offered 7,000.00 when I refused I showed them the screen shot and Victor’s email. They told me your car isn’t worth 11,500 to us. Your car shows it had THREE accidents.. ive never had even one. Is it possible for a dealer to add an accident? I think west herr added an accident because now every online appraisal says I have accidents when it never said that before.
    Today I got an appraisal from JD Powers showing a dealer would sell my car for 16-17,000 & trade on a rough is 11,500 and up to 14,000 on good condition which mine is.
    Dealers are crooks, I don’t need a car I want a car. My way or no sale
    Can dealers add fake accident reports to low ball their appraisal?

    Reply
  2. Renee w

    I tried to use your tool to find auto insurance. After I entered all my personal information and I see that I’m about to get my quotes, the next window is to pick from three companies (none of which I’ve ever heard of), and picking one opens another window with more choices…….repeat.

    I just stopped and closed them all. How many of these “companies” now have my info? I trusted that you had a bonafide compare tool. It looks more like a scam to get peoples personal information.

    I’m soooo extremely disappointed. I watch you guys on YouTube all the time and I trusted you!!! Why would you do this?

    You must know how this “tool” works! Or DOESNT! I can’t believe it’s even on your site.

    If you’re really who you portray yourselves as, wanting to help people, and being very transparent, you should really take that pos off your site. It doesn’t mesh at all with who you claim to be.

    Reply
    • Zach Shefska

      Hi Renee, I am sorry to hear about your experience. What page was it on? If you use our http://caredge.com/insurance experience it should not do that. Please know you can also call our agents at anytime at 855.786.1144 We truly are here to help, and I am very disappointed in the experience you had.

      Reply

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