Here's a look at the state of auto loan rates from Bankrate.com's weekly national survey of large banks and thrifts conducted Feb. 10, 2010.
Auto loans
Rates: 6.63 percent (60-month, new car); 7.62 percent (36-month, used car)Auto loan rates were down across the board this week. Average rates for 48-month and the 60-month new-car loans each gave up 6 basis points, to 6.65 percent and 6.63 percent, respectively. Rates for used-car loans also gave up ground; the 36-month used-car average slid 5 basis points, to 7.62.
Add Honda to the list of Japanese automakers experiencing recall pains this week. Honda announced it was expanding a recall first issued in 2008 to deal with faulty air bags installed on some models, according to a report by The Detroit News. The additional recall will affect 378,758 vehicles, including the 2001 and 2002 Accord, Civic, Odyssey, CR-V and some Acura TL models. If you own any of these vehicles, the safest bet is to contact your local Honda or Acura dealer.
To find updated auto rates in your area, visit Bankrate's auto rate table.
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-- Claes Bell