Interest Rate Roundup
- 60-month, new car: 4.07%
- 36-month, used car: 4.86%
Rates on auto loans were mixed this week, according to Bankrate's latest survey of interest rates.
The average rates for 60-month and 48-month new car loans rose 1 basis point to 4.07 percent and 4.04 percent, respectively. The average rate for a 36-month new car loan rose 2 basis points to 4.02 percent.
A basis point is one-hundredth of 1 percent.
The average rate for a 48-month used car loan was 4.98 percent for the second straight week. The average rate for a 36-month used car loan kept its place at 4.86 percent.