Auto Loans
Rates: 7.06 percent (60-month, new car); 7.88 percent (36-month, used car)All loan terms surveyed for new cars are up 1 basis point in this week's rate roundup.
That puts the 60-month new-car loan rate at 7.06 percent, the 48-month at 7.05 percent and the 36-month loan rate at 6.95 percent.
Used car loan rates remain unchanged. The 36-month used-car loan rate is 7.88 percent and the 48-month used-car loan rate is 7.98 percent.
Just as you may have suspected, super small cars do not fare well in collisions with larger vehicles.
The Insurance Institute for Highway Safety tested the Honda Fit, Smart Fortwo and the Toyota Yaris in frontal collisions with midsize cars. Analysis of crash test dummies in the test revealed a high risk of injury to occupants of the mini-cars, and all three small vehicles earned a rating of poor in the test.
In the news release from April 14, the Institute explained the physics behind the safety limitations of mini-cars.
To find updated auto rates in your area, visit Bankrate's auto rate table.
-- Sheyna Steiner