- 6.67% (60-month, new car)
- 7.53% (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. 8, 2010.
Auto loan rates continued sliding this week. The average rate for a 60-month new-car loan was down 2 basis points this week, to 6.67, widening its rate advantage over a 48-month new-car loan to 3 basis points. The 48-month new-car average drifted down just 1 basis point, to 6.7 percent. Used-car rates were also down; the benchmark 36-month used-car loan slid 2 basis points to 7.53 percent.
U.S. owners of 35,000 2010 Kia Soul and 2011 Kia Sorento autos got some bad news last week. Their cars are being recalled because of a possibly defective wiring harness that could result in a vehicle fire. Owners are encouraged to bring their vehicles in to the nearest dealer for a free fix. Contact Kia for more information at (800) 333-4542.
To find updated auto rates in your area, visit Bankrate's auto rate table.-- Claes Bell