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 21, 2010.
Auto loansRates: 6.95 (60-month, new car); 7.7 percent (36-month, used car)
Auto loan rates were mixed again this week. The average rates for 48-month new-car loans and 60-month new-car loans eased down 1 basis point, to 6.97 percent and 6.95 percent, respectively. Rates for used-car loans idled in place, with the 36-month used-car average remaining at 7.7 percent.
Americans are falling back in love with American autos, according to an Associated Press-GfK poll released this week. More Americans now think that the United States automakers build better cars than Asian automakers, by a margin of 38 percent to 33 percent. When the same question was asked in a December 2006 AP-AOL poll, 46 percent said Asian cars were superior versus just 29 percent who thought American cars were better, according to the AP report. The survey found the change was fueled in part by Toyota's recent safety troubles and perceived improvements in Ford's product lineup.
To find updated auto rates in your area, visit Bankrate's auto rate table.
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-- Claes Bell