July 2026 Auto Market Report: Rates Ease While Used Prices Keep Slipping
Our monthly read on the US auto market: refinance APRs by credit tier, the lease deal actually worth a look, used price trends, and what buyers are really paying as of July 13, 2026.
The numbers this month tell a quiet story: money is getting a little cheaper, used cars are getting a little cheaper, and nobody at the dealership is going to volunteer either fact. Here is where the US auto market stands as of July 13, 2026, according to our daily-refreshed Market Pulse tracker.
TL;DR: Refinance APRs are drifting down, with the excellent-credit tier averaging 6.2%. The lease worth a look is a 2026 Honda Civic LX at $249 a month. Wholesale used prices slipped another 0.8% month over month. The average new-car buyer is paying $48,900 with $6,800 down at 7.3% APR. Gas is a flat $3.42.
Refinance rates: the drift down continues
Average auto refinance APRs by credit tier, as of July 13:
- Excellent credit: 6.2%
- Good credit: 8.4%
- Fair credit: 12.1%
- Rebuilding credit: 16.8%
The trend arrow points down, which follows the Federal Reserve cut we covered in our newsroom. If you financed at a dealership in 2024 or 2025, when rates were peaking and desk managers knew it, you are exactly the person refinancing was invented for. A two-point drop on a $28,000 balance is real money over the life of the loan.
You do not need to guess whether it pencils. Our free Refinance Verdict tool runs the math in about two minutes, and it will tell you honestly when refinancing is not worth the paperwork.
The lease that pencils
The strongest broadly available lease our tracker sees right now is a 2026 Honda Civic LX at $249 a month on a 36 month, 12,000 miles per year contract. For a new compact with Honda resale gravity behind it, that is a genuinely defensible payment.
The usual caveat applies: a cheap payment is not automatically a cheap lease. Fees, the money factor, and the drive-off amount decide the real cost, and insurance on a leased car has its own quirks, which we unpack in our guide to insurance when buying vs leasing. If you are torn on the bigger question, Lease vs Buy will give you a verdict, not a shrug.
Used prices keep sliding
The wholesale used vehicle index fell another 0.8% month over month. That is not a crash. It is a slow leak, and it has been running for months.
If you are holding a car you have been meaning to sell, the polite way to say it is that waiting has a price now. Run Sell or Keep before the market makes the decision for you.
If you are buying used, falling wholesale prices eventually reach the retail lot, so patience and negotiation are back in style. Just inspect before you pay. A five minute scan of the car's computer catches problems a test drive never will, and our OBD2 scanner guide for used car buyers covers the cheap way to do it.
What buyers are actually paying
A few numbers that describe the average new-car deal in America right now:
- Average transaction price: $48,900
- Average down payment: $6,800
- Average new-loan APR: 7.3%
- Top selling model: the 2026 Ford F-150, still
- EV share of new sales: 11.2%, and rising
Nearly fifty grand for the average new vehicle explains a lot about why the refinance and used-market sections above exist.
Gas: the non-story
The national average sits at $3.42 a gallon, flat on the month. Enjoy a line item in the car budget that is behaving itself.
Bottom line
Rates drifting down plus used prices loosening equals a better second half of 2026 for anyone facing a car money decision. The Market Pulse page refreshes these numbers every day, and if you want an email the moment refinance APRs for your credit tier drop at least half a point, the rate alert signup lives right on that page.
We will run this report again in early August.
FAQ
Are used car prices going down in 2026? At the wholesale level, yes. Our tracker shows the used vehicle index down 0.8% month over month as of July 13, 2026, continuing a months-long slide. Retail prices follow wholesale with a lag, so listed prices tend to soften a bit later.
What is a good auto refinance rate right now? As of July 13, 2026, the average refinance APR is about 6.2% for excellent credit and 8.4% for good credit. If your current loan is meaningfully above the average for your tier, it is worth running the numbers.
Is now a good time to lease a car? Lease math depends on the specific offer, not the calendar. The best current deals cluster around compact sedans, like the $249 a month 2026 Civic LX our tracker flags. Compare the total lease cost against buying before you sign.
Will auto loan rates keep falling in 2026? Nobody can promise that. The current trend is down and the Federal Reserve's July cut helped, but rate paths change. If refinancing already saves you real money at today's rates, waiting for a better rate is a gamble, not a plan.
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If you're paying more than 7 percent on your 2021 Accord Sport and plan to keep it another three years, refinancing to 6.5 percent will save you real money.
Bank-Direct vs Credit Union for Auto Refinance
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