- 5.68% (60-month, new car)
- 6.66% (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 March 23, 2011.
Auto loan rates were mixed in a relatively quiet week. The average rate for a 48-month new-car loan fell 1 basis point, to 5.62 percent, while the 60-month new-car loan average stayed put at 5.68 percent. Our averages this week may have been shaped in part by how some rates are quoted to Bankrate when conducting the survey, not changes in the rates borrowers are receiving.
Used-car loans were up slightly. The average rate for a 36-month used-car loan, a popular option for auto loan refinancing, rose 1 basis point, to 6.66 percent.
This week J.D. Power released its annual dependability survey tracking how many problems buyers of different brands experienced with their cars over a three-year period. Ford's luxury arm, Lincoln, fared the best, with owners experiencing an average of 101 problems per 100 cars. Lexus, Jaguar, Porsche and Toyota rounded out the top five. BMW's small-car division Mini had the worst reliability record in the survey, with 221 problems per 100 cars.
To find updated auto rates in your area, visit Bankrate's auto rate table.-- Claes Bell