National auto loan rates for Feb. 24, 2011

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.18% (60-month, new car)
  • 7.20% (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. 23, 2011.

Auto loan rates were mixed this week, with average rates on new-car loans and used-car loans moving in opposite directions. The average rates for 48-month new-car loans and 60-month new-car loans each lost 1 basis point, settling at 6.13 percent and 6.18 percent, respectively.

Used-car loan rates, on the other hand, were up. The average rate for a 36-month used-car loan, a popular option for auto loan refinancing, climbed 2 basis points to 7.20 percent.

Ford moved this week to recall 144,000 F-150 trucks from model years 2005 and 2006 over concerns about air bags that could deploy without warning, according to a report in The Detroit News. The move came as a result of a National Highway Traffic Safety Administration investigation into 238 reports of air bags going off in the full-size pickups and injuring passengers. The NHTSA had originally asked Ford to recall 1.3 million of the vehicles, and is reviewing Ford's action to decide whether to push for a wider recall.

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