auto

National auto loan rates for Oct. 7, 2010

Interest Rate Roundup
Auto loan rate graph

Auto Loans

  • 6.6% (60-month, new car)
  • 7.48% (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 Oct. 6, 2010.

Auto loan rates were mixed this week. New-car rates were down; the average rates for a 60-month, new-car loan and a 48-month, new-car loan each fell 1 basis point, to 6.6 percent and 6.63 percent, respectively. Used car rates, on the other hand, stayed put. The benchmark 36-month, used-car loan stayed planted at 7.48 percent.

The National Highway Traffic Safety Administration, or NHTSA, unveiled new crash safety ratings standards this week for autos sold in the U.S. The new standards will keep the 5-star rating format but broaden the NHTSA testing regimen, adding tests using "female" crash dummies, side-impact testing simulating a collision with a stationary object and evaluation of crash-avoidance equipment such as electronic stability control. Overall, the new standards are meant to raise the bar for U.S. auto safety. Models from two automakers, Hyundai and BMW, have already earned 5-star ratings.

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

-- Claes Bell

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Toyota, Land Rover win value awards

Toyota and Land Rover recently received top honors in ALG’s 15th Annual Residual Value Awards.  ... Read more


Connect with us