It was a quiet week in auto-loan interest-rate land; only the 60-month new-car loan budged. It's down 1 basis point to 7.09 percent. That means the 36-month and 48-month new-car loan rates are still 7 percent and 7.06 percent respectively.

The 48-month and 36-month used-car rates are both 7.74 percent.

CNNmoney.com ran an article last week detailing the tightrope automakers walk these days between heavily discounting their vehicles with incentives or letting them sit on the lots for months. U.S. carmakers had been trying to get away from the practice of using sales incentives, saying it diminished their brands and trained consumers to wait for bargains.

Despite their distaste for incentives, General Motors offered buyers great deals and it seems to have paid off for them: Their sales figures for June were down only 18 percent, a big win over Ford, Chrysler and even Toyota.

-- Sheyna Steiner

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