Here's a look at the state of auto loan rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Jan. 20, 2010.
Auto loansRates: 6.85 percent (60-month, new car); 7.7 percent (36-month, used car)
Auto loan rates were down slightly this week. Average rates on 48-month and 60-month new-car loans gave up 1 basis point, to 6.87 percent and 6.85 percent, respectively. Rates for used-car loans were also down; the 36-month used-car average fell 1 basis point, to 7.7 percent.
Chrysler filed notice this week with the National Highway Traffic Safety Administration that it would be recalling 24,177 cars and trucks for a potentially dangerous brake defect. The models affected include 2010 models of its Chrysler Sebring; Dodge Avenger and Nitro; and Jeep Liberty, Commander and Grand Cherokee. Dodge Ram pickups from model years 2009 and 2010 were also included in the recall. These vehicles could have a brake booster retaining clip that is either missing or improperly formed, a defect that could result in "brake failure without warning, which could result in a crash," according to the filing.
To find updated auto rates in your area, visit Bankrate's auto rate table.
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-- Claes Bell