Auto Loans
- 6.61% (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 Sept. 29, 2010.
Auto loan rates dipped this week. The average 60-month new-car loan rate fell 3 basis points to 6.61 percent. The 48-month new-car loan rate fell 2 basis points to 6.64 percent. And, for used cars, the 36-month used-car loan rate dropped 2 basis points to 7.48 percent.
Hatchbacks are making a comeback, David Kiley reported on Wednesday for AOL, in a story titled "Why hatchbacks are back." Five-door models such as the Volkswagen Golf have struggled to gain a foothold in the American market but new designs, changing consumer perceptions and high gas prices could be changing that as Americans look for sporty but efficient cars with the utility of SUVs and crossovers.
Hatchbacks make up 60 percent of sales and production for the Ford Fiesta now, Kiley writes.
To find updated auto rates in your area, visit Bankrate's auto rate table.
-- Sheyna Steiner