Here's a look at the state of auto loan rates from Bankrate.com's weekly national survey of large banks and thrifts conducted April 7, 2010.
Auto loansRates: 6.95 (60-month, new car); 7.71 percent (36-month, used car)
Auto loan rates were mixed this week. The average rate for a 48-month new-car loan was up 2 basis points, to 6.98 percent. Meanwhile, the 60-month new-car loan average stayed put at 6.95 percent. Rates for used-car loans ticked up slightly, with the 36-month used-car average rising 1 basis point, to 7.71 percent.
General Motors is offering deep discounts on the 2,200 Hummer models still left in its inventory as it winds the brand down, according to a report in Automotive News. The automaker is offering zero percent financing for 72 months or rebates of $4,000 for 2010 H3s and H3Ts, $5,000 for 2009 H3Ts and $6,000 for 2009 H2s or H3s, according to the report. GM had previously planned to sell the brand to Chinese manufacturer Sichuan Tengzhong Heavy Industrial Machinery, but the deal failed to get the Chinese government's approval and was scrapped.
To find updated auto rates in your area, visit Bankrate's auto rate table.
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-- Claes Bell