auto

National auto loan rates for June 17, 2010

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.92% (60-month, new car)
  • 7.67% (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 June 16, 2010.

Auto loan rates were mostly down this week. The average rates for 48-month new-car loans and 60-month new-car loans each dropped off 1 basis point, to 6.95 percent and 6.92 percent, respectively. But used-car rates were flat; the 36-month used-car was unchanged at 7.67 percent.

The fact that electric cars are so quiet is often seen as a selling point for the technology, but one drawback is the potential danger to pedestrians who can't hear the cars coming. This week Nissan announced it had developed a warning sound system for its 2011 Nissan Leaf models that will emit a jet-like whine when the car is driving slower than 19 miles per hour, according to an article in the Washington Post. Drivers will be able to turn the system off, but will default to "on" whenever the car is restarted.

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

-- Claes Bell

 

 

 

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