National auto loan rates for Dec. 9, 2010

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.19% (60-month, new car)
  • 7.16% (36-month, used car)

Here's a look at the state of auto loan rates from's weekly national survey of large banks and thrifts conducted Dec. 8, 2010.

Auto loan rates fell further this week into record-low territory. New-car rates were lower across the board, with the average rate for a 60-month, new-car loan falling 3 basis points to 6.19 percent. The rate for 48-month, new-car loans also slid, dropping 2 basis points to 6.22 percent.

Used-car loans were also lower in this week's survey. The average rate for a 36-month, used-car loan shed 5 basis points, to 7.16 percent.

This month the National Highway Traffic Safety Administration, or NHTSA, proposed new requirements for rearward visibility in cars and trucks by 2014, according to a report by The Detroit News. The requirements are intended to prevent motorists from accidently backing over pedestrians, particularly children under 5 years of age, 100 of whom are killed in such accidents every year. To comply with the proposed rules, automakers would most likely have to install rear-facing cameras and screens in new autos, adding between $159 and $203 to the cost of producing a new vehicle.

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

-- Claes Bell




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