National auto loan rates for August 4, 2011

Interest Rate Roundup
Auto loan rate graph
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Auto Loans

  • 5.6% (60-month, new car)
  • 6.45% (36-month, used car)

Auto loan rates jumped this week. The average rates for the 48-month new-car loans and 60-month car loans jumped 16 basis points, to 5.56 percent and 5.6 percent, respectively.

Used-car loan rates also were higher, but to a lesser degree. The average rate for a 36-month used-car loan ramped up 7 basis points, to 6.45 percent.

A press release sent by Toyota U.K. detailed a few interesting new safety features that could eventually be implemented in their vehicles.

One feature is an upgrade of the successful collision avoidance feature found in a few cars today and will utilize radars and cameras to help steer and brake your way to safety if an obstruction is detected.

Another is technology similar to that found in treadmill handlebars where your steering wheel will read cardiovascular activity. Its aim is to detect issues that could affect your driving, such as a heart attack, and react in an appropriate manner.

Finally, adaptive high-beam lights will be able to detect oncoming traffic and will adjust accordingly to avoid blinding drivers. There are no details on when these features will reach consumers.




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