National auto loan rates for Feb. 10, 2011

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.19% (60-month, new car)
  • 7.17% (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 Feb. 9, 2011.

Auto loan rates were down this week. The average rate for a 48-month new-car loan and 60-month new-car loan each shed 4 basis points, landing at 6.14 percent and 6.19 percent, respectively.

Used-car loan rates also fell. The average rate for a 36-month used-car loan, a popular option for auto loan refinancing, fell 7 basis points, ending up at 7.17 percent.

This week the National Highway Traffic Safety Administration concluded a 10-month investigation into runaway acceleration in Toyota cars. Congress ordered the investigation, which was conducted in part by engineers from NASA, to find out whether electronic faults could be causing Toyota products to accelerate on their own. In the end, the investigation found no evidence that Toyota's electronic systems could cause unintended acceleration.

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

-- Claes Bell




Show Bankrate's community sharing policy
          Connect with us

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
Partner Center


Tara Baukus Mello

Air bag recall hits 7.8M cars

About 7.8 million cars have been recalled due to a possible problem with the airbags that could cause them to deploy unexpectedly.  ... Read more

Connect with us