auto

National auto loan rates for August 11, 2011

Interest Rate Roundup
Auto loan rate graph
Find the best auto rates in your area.

Auto Loans

  • 5.57% (60-month, new car)
  • 6.57% (36-month, used car)

Auto loan rates were mixed this week. The average rate for a 48-month new-car loan fell 2 basis points, to 5.54 percent, and the average rate on 60-month car loans declined 3 basis points to 5.57 percent.

On the other hand, used-car loan rates were up substantially. The average rate for a 36-month used-car loan added 12 basis points, to 6.57 percent.

A new survey by AAA finds many U.S. drivers are too strapped for cash to handle a major car repair, should their car break down. The survey found 1 in 4 drivers couldn't cover a $2,000 repair if his or her car needed one.

That's especially worrying, considering the same survey found more than half of drivers are holding on to older vehicles longer, and one in four admitted to putting off needed repairs, making such a major repair more likely.

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Pumpkin-carving for car lovers

Car lovers will love carving a cool car pumpkin from a template created by three automotive aftermarket companies.  ... Read more


Connect with us