New Mexico's large geographic area and dispersed population make vehicle ownership essential. The Albuquerque metro has the state's most competitive dealership and direct-lending market. New Mexico's 2023 consumer loan rate cap provides meaningful protections for smaller-balance auto loan borrowers.
National averages from the Federal Reserve G.19 (live data) — commercial banks, new car loans. Not state-specific rates — not a rate quote. Your actual rate depends on credit score, down payment, vehicle, and lender.
60-Month New Car
7.52%
National avg, commercial banks — February 2026
72-Month New Car
7.55%
National avg, commercial banks — February 2026
Illustrative example — not a rate quote or offer
$35,000 loan · 60 months · 7.52% APR (Federal Reserve G.19 (live data) national benchmark)
Est. monthly
$702
Total paid
$42,100
Total interest
$7,100
Source: Federal Reserve G.19 Consumer Credit · NCUA rate comparison