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 26, 2010.
Auto LoansRates: 6.96 (60-month, new car); 7.71 percent (36-month, used car)
Auto loan rates were mostly unchanged this week. The average rates for 48-month new-car loans and 60-month new-car loans stayed put, holding at 6.98 and 6.96, respectively. Rates for used-car loans were down slightly, with the 36-month used-car rate dropping 1 basis point, to 7.71 percent.
Flush with 20,000 pre-orders, Nissan Motor Co. will begin selling its all-electric Leaf hatchback in December, according to a report in The Detroit News. The Leaf is expected to cost around $25,000 after government tax incentives and will be rolled out initially in markets with the infrastructure necessary to quickly charge the vehicle, according to the report.
To find updated auto rates in your area, visit Bankrate's auto rate table.
-- Claes Bell