Maine Auto Loan Rates Are Rising Faster Than in Almost Every Other State

Drivers in Maine are getting slammed by one of America’s biggest auto loan rate increases.

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WalletHub compared auto loan interest rates from the first and second quarters of 2026 to identify the states with the largest increases.

The rankings were calculated using proprietary user data from WalletHub’s database.

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Maine ranked second among states where auto loan interest rates increased the most from the first to the second quarter of 2026.

The state’s average auto loan interest rate reached 9.66% in the second quarter, up 1.40% from the previous quarter.

Rising auto loan interest rates make borrowing money to buy a vehicle more expensive, generally increasing monthly payments and total interest costs for buyers taking out new loans.

Buyers may need to choose a less expensive vehicle or make a larger down payment to stay within their budgets, while existing fixed-rate auto loans are unaffected.

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And there you have it! Maine borrowers shopping for a vehicle are facing higher financing costs after one of the largest quarter-to-quarter rate increases in the country.

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