By Ziv Shay | Updated April 2026
Reach your goal in 1 year 7 months saving $800/month at 5.25% APY
Saving $800 per month — see how fast each account helps you reach your new car fund goal.
| Bank | APY | Time to Goal | Total Deposited | Interest Earned | Action |
|---|---|---|---|---|---|
| UFB Direct | 5.25% | 1y 7m | $15,200 | $614 | Open Account |
| Bread Savings | 5.15% | 1y 7m | $15,200 | $602 | Open Account |
| Wealthfront Cash | 5.00% | 1y 7m | $15,200 | $584 | Open Account |
| LendingClub | 5.00% | 1y 7m | $15,200 | $584 | Open Account |
| CIT Bank | 4.85% | 1y 7m | $15,200 | $566 | Open Account |
| Bask Bank | 4.85% | 1y 7m | $15,200 | $566 | Open Account |
| Betterment Cash Reserve | 4.75% | 1y 7m | $15,200 | $554 | Open Account |
| Synchrony Bank | 4.75% | 1y 7m | $15,200 | $554 | Open Account |
The average new car price in 2026 is around $48,000, but you can find excellent options for $15,000 or less. A significant down payment or paying cash saves you thousands in auto loan interest. At 5.25% APY, your car fund grows while you research the perfect vehicle.
A high-yield savings account is ideal for your new car fund because it offers FDIC insurance (your money is safe), easy access when you are ready to use it, and competitive interest rates that help your money grow faster. Unlike investing in stocks or crypto, there is no risk of losing principal with an FDIC-insured HYSA.