- 4.06% (60-month, new car)
- 4.92% (36-month, used car)
Rates on auto loans rose slightly this week, according to Bankrate's latest survey of interest rates.
The average rate for a 60-month new car loan went up 2 basis points to 4.06 percent. The average 36-month new car loan increased 2 basis points to 3.98 percent. The average 48-month new car loan rose 1 basis point to 4 percent.
A basis point is one-hundredth of 1 percent.
The average rate for a 36-month used car loan jumped 2 basis points to 4.92 percent, while the average 48-month used car loan rose 1 basis point to 4.99 percent.