- 5.41% (60-month, new car)
- 6.42% (36-month, used car)
Auto loan rates were mixed this week. The average rate for 48-month new-car loans dipped 1 basis point to 5.37 percent, and 60-month new-car loans stayed put at 5.41 percent. A basis point is one-hundredth of 1 percentage point.
Used-car loan rates, on the other hand, fell. The average rate for a 36-month used-car loan fell 2 basis points to 6.42 percent.
A new study by the Insurance Institute for Highway Safety finds the joint effort launched by automakers in the early 2000s to reduce the risks when SUVs and pickups collide with cars is starting to bear fruit. Design changes to make light trucks and cars more compatible in crashes have helped reduce the death rate for people in cars involved in such collisions by up to two-thirds, according to the study.