auto

National auto loan rates for Dec. 2, 2010

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.22% (60-month, new car)
  • 7.21% (36-month, used car)

Here's a look at the state of auto loan rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Dec. 1, 2010.

Auto loan rates were mostly lower this week, falling further into record-low territory. New-car rates were mixed, with the average rate for a 60-month new-car loan falling 1 basis point to 6.22 percent. Meanwhile, the rate for 48-month new-car loans stood unchanged at 6.24 percent.

Used-car loans, on the other hand, were down. The average rate for a 36-month used-car loan shaved off 1 basis point, to 7.21 percent.

A new study by the National Highway Traffic Safety Administration finds drug use is increasingly common among drivers involved in fatal car accidents. The NHTSA found that, of 13,801 drivers given postmortem drug tests following fatal accidents in 2009, 18 percent tested positive for signs of recent illegal drug use. That's up from 13 percent in 2005.

To find updated auto rates in your area, visit Bankrate's auto rate table.

-- Claes Bell

 

 

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