Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted July 30, 2008.
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Auto loans
Rates: 7.07 percent (60-month, new car); 7.73 percent (36-month, used car)
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This week's interest rate survey revealed some
gentle movement in auto loan interest rates but nothing major. The 60-month
new-car loan rate bumped up 1 basis point to 7.07 percent. The 48-month
new-car loan rate held tight to 7.03 percent, while the 36-month new-car
loan rate gained 1 basis point to come in at 6.97 percent.
The 48-month used-car loan rate rose 1 basis point to 7.75 percent and the 36-month used-car loan stayed at 7.73 percent.
J.D. Power and Associates predicts a marked decrease in new light-vehicle sales from 2007. The forecast projects sales of 14.2 million units, a decrease of 12 percent from last year. And 2009 should be up slightly with an increase to 14.3 million units.
In cheerier news, if you are in the market for a new car and happen to be looking for a dog-friendly vehicle, check out the reviews on dogcars.com to find the right vehicle for your four-legged family. The site reviews cars based on how well they can cart around your dogs in their safety-appropriate restraints or crates.
-- Sheyna Steiner
See
auto loan rates in your area. |
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July 30 - Aug. 5
