LOS ANGELES — Analysts from GoBankingRates.com sifted
through reams of data from a host of different finance institutions and
government agencies to determine the Top 10 states with the highest and lowest
average APR for vehicle contracts.

The lists represented nearly all regions of the U.S. as one of the
nation's smallest states took the position with the highest average APR while
an auto industry hub posted the lowest average APR.

GoBankingRates.com determined Rhode Island is the smallest
state but leads the nation as vehicle contracts in the Ocean State have an
average APR of 5.11 percent.

Meanwhile, Michigan sported the lowest average at 3.03
percent.

Analysts explained the APR data was compiled using the
GoBankingRates interest rate database and the site's partner, Informa Research
Services. The firms aggregated up-to-date rate information belonging to
thousands of local, national and online U.S. banks and credit unions.

"Although the information has been obtained from the various
financial institutions, the accuracy cannot be guaranteed," analysts said. "Auto
loan rates are as of July 24 and are subject to change at any time at the discretion
of individual institutions."

In order to share other information about each state
mentioned on the lists, analysts reviewed data from the U.S. Census Bureau, U.S.
Department of Transportation, the Bureau of Business and Economic Research and
the Bureau of Labor Statistics.

The following list shows the Top 10 states with the highest average
APR along with the best local rates for popular terms and other state
demographic metrics:

1. Rhode Island: 5.11 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 1,050,292
Number of Registered Vehicles: 473,647
Per Capita Personal Income: $44,990
Unemployment Rate: 8.9 percent

2. Connecticut: 4.82 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 3,590,347
Number of Registered Vehicle: 1,973,586
Per Capita Personal Income: $58,908
Unemployment Rate: 8.1 percent

3. New Jersey: 4.47 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Self Reliance Federal Credit Union – 1.49 percent
60-month: Andrews Federal Credit Union – 1.59 percent

Population: 8,864,590
Number of Registered Vehicles: 3,926,249
Per Capita Personal Income: $53,628
Unemployment Rate: 8.6 percent

4. Massachusetts: 4.21 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 6,646,144
Number of Registered Vehicles: 3,122,244
Per Capita Personal Income: $54,687
Unemployment Rate: 7.2 percent

5. Louisiana: 4.20 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Jefferson Financial Credit Union – 1.49 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 4,601,893
Number of Registered Vehicles: 1,854,348
Per Capita Personal Income: $39,413
Unemployment Rate: 7.0 percent

6. West Virginia: 4.16 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 1,855,413
Number of Registered Vehicles: 689,690
Per Capita Personal Income: $34,477
Unemployment Rate: 6.2 percent

7. Delaware: 4.14 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 917,092
Number of Registered Vehicles: 426,890
Per Capita Personal Income: $41,940
Unemployment Rate: 7.4 percent

8. Washington D.C.: 3.95 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Transportation Federal Credit Union – 1.99 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 632,323
Number of Registered Vehicles: 155,701
Per Capita Personal Income: $74,710
Unemployment Rate: 8.6 percent

9. Mississippi: 3.91 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Keesler Federal Credit Union – 1.79 percent
60-month: Keesler Federal Credit Union – 1.79 percent

Population: 2,984,926
Number of Registered Vehicles: 1,131,075
Per Capita Personal Income: $33,073
Unemployment Rate: 8.5 percent

10. Pennsylvania: 3.84 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: People First Federal Credit Union – 1.99 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 12,763,536
Number of Registered Vehicles: 5,637,973
Per Capita Personal Income: $43,616
Unemployment Rate: 7.5 percent

The following list shows the Top 10 states with the lowest average
APR along with the best local rates for popular terms and other state
demographic metrics:

1. Michigan: 3.03 percent

36-month: Community West Credit Union – 1.49 percent
48-month: Navy Federal Credit Union – 1.49 percent
60-month: Michigan Educational Credit Union – 1.75 percent

Population: 9,883,360
Number of Registered Vehicles: 5,084,005
Per Capita Personal Income: $37,497
Unemployment Rate: 8.7 percent

2. Oregon 3.04 percent

36-month: First Community Credit Union – 0.99 percent
48-month: USAA FSB – 2.24 percent
60-month: First Community Credit Union – 1.49 percent

Population: 3,899,353
Number of Registered Vehicles: 1,457,239
Per Capita Personal Income: $38,786
Unemployment Rate: 7.9 percent

3. Alaska 3.04 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 731,449
Number of Registered Vehicles: 225,656
Per Capita Personal Income: $46,778
Unemployment Rate: 6.1 percent

4. New Hampshire 3.08 percent

36-month: New Hampshire FCU – 1.37 percent
48-month: New Hampshire FCU – 1.37 percent
60-month: New Hampshire FCU – 1.37 percent

Population: 1,320,718
Number of Registered Vehicles: 614,113
Per Capita Personal Income: $47,058
Unemployment Rate: 5.2 percent

5. South Carolina 3.15 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 4,723,723
Number of Registered Vehicles: 2,018,612
Per Capita Personal Income: $34,266
Unemployment Rate: 5.2 percent

6. Vermont: 3.17 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 626,011
Number of Registered Vehicles: 289,738
Per Capita Personal Income: $42,994
Unemployment Rate: 4.4 percent

7. Oklahoma: 3.23 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 3,814,820
Number of Registered Vehicles: 1,567,629
Per Capita Personal Income: $39,006
Unemployment Rate: 5.2 percent

8. Utah: 3.28 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: USAA FSB – 2.24 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 2,855,287
Number of Registered Vehicles: 1,304,594
Per Capita Personal Income: $34,601
Unemployment Rate: 4.7 percent

9. Washington: 3.29 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Global Credit Union – 1.75 percent
60-month: Global Credit Union – 1.75 percent

Population: 6,897,012
Number of Registered Vehicles: 2,578,732
Per Capita Personal Income: $45,413
Unemployment Rate: 6.8 percent

10. North Carolina: 3.31 percent

36-month: Navy Federal Credit Union – 1.49 percent
48-month: Truliant Federal CU – 1.99 percent
60-month: Navy Federal Credit Union – 1.79 percent

Population: 9,752,073
Number of Registered Autos: 3,249,804
Per Capita Personal Income: $37,049
Unemployment Rate: 8.8 percent

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