- 4.12% (60-month, new car)
- 4.72% (36-month, used car)
Auto loan rates were mixed this week in Bankrate's national survey.
The average rates for 60-month and 48-month new-car loans were flat at 4.12 percent and 4.04 percent, respectively.
But rates on used-car loans were up slightly, with the average rate on a 36-month used-car loan rising 3 basis points to 4.72 percent. A basis point is one-hundredth of 1 percentage point.
If you like big engines such as V-8s or V-6s, those models might be getting harder to find. Ford is expecting the number of cars sold with four-cylinder engines to increase from more than half of new models to two-thirds by the end of the decade, according to a report by The Detroit News. The likely shift to smaller engines will be primarily driven by higher federal fuel economy standards, according to the report.