Auto Loans
- 5.56% (60-month, new car)
- 6.55% (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 May 25, 2011.
Auto loan rates were a mixed bag this week, with some loan terms reflecting an increase and others dropping.
The typical 60-month, new-car loan rate is down 2 basis points to 5.56 percent. The 48-month new-car loan rate stayed put at 5.53 percent.
For used cars, the 36-month, used-car loan rate is up 12 basis points to 6.55 percent.
Despite high gas prices, curtailing driving habits to accommodate a purely electric car does not appeal to most Americans, no matter the cost.
A recent survey has found that a majority of Americans, 60 percent, would not buy a pure plug-in electric car due to the limited range. The survey was conducted by USA Today and the Gallup polling organization.
To find updated auto rates in your area, visit Bankrate's auto rate table.
-- Sheyna Steiner