- 6.17% (60-month, new car)
- 7.19% (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 2, 2011.
Auto loan rates were down across the board this week. The average rates for 48-month, new-car loans and 60-month, new-car loans each slid one basis point to 6.12 percent and 6.17 percent, respectively.
Used-car loan rates followed new-car rates downward. The average rate for a 36-month, used-car loan, a popular option for auto loan refinancing, declined 1 basis point to 7.19 percent.
Consumer Reports released its annual automaker report cards this week. The results show Ford improving its standing, with much of the rest of the automotive brands in the U.S. unchanged from last year. The report cards rate automakers based on the road test performance and projected reliability of their lineups.
Japanese automakers Honda, Toyota and Subaru continue to occupy the top spots, while resurgent American brands Chrysler and General Motors occupied the bottom two spots. Ford finished in fifth place, just behind Volvo.
To find updated auto rates in your area, visit Bankrate's auto rate table.-- Claes Bell