- 6.69% (60-month, new car)
- 7.55% (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 Sept. 1, 2010.
Auto loan rates were down across the board this week. The average rates for 60-month new-car loans and 48-month new-car loans each plummeted 9 basis points, to 6.69 and 6.71 percent, respectively. Used-car rates also fell, though not as dramatically as their new-car counterparts; the benchmark 36-month used-car was down 1 basis point to 7.55 percent.
Buyers of all-electric cars, such as the Nissan Leaf, and plug-in hybrids, such as the upcoming Chevrolet Volt, will get access to California's HOV lanes from 2012 to 2015. The privilege comes courtesy of a measure signed into law yesterday, which also extends the use of HOV permits already granted to drivers of hybrid cars under a previous measure.
To find updated auto rates in your area, visit Bankrate's auto rate table.-- Claes Bell