- 4.04% (60-month, new car)
- 4.52% (36-month, used car)
The cost of car loans crept up this week.
Up 1 basis point, the average 60-month new-car loan rate was 4.04 percent. Also up 1 basis point, the average 48-month new car loan rate was 3.95 percent. A basis point is one-hundredth of a percent.
A 36-month used-car loan is slightly more expensive -- up 2 basis points to 4.52 percent.