- 4.04% (60-month, new car)
- 4.9% (36-month, used car)
Rates on auto loans went up this week, according to Bankrate's latest survey of interest rates.
The average rate for a 60-month new car loan rose 1 basis point to 4.04 percent, while the average 36-month new car loan rose 1 basis point to 3.96 percent. The average 48-month new car loan rose 1 basis point to 3.99 percent.
A basis point is one-hundredth of 1 percent.
The average rate for a 36-month used car loan rose 4 basis points to 4.9 percent, while the average 48-month used car loan rose 5 basis points to 4.98 percent.
Potential decreases in auto loan rates were offset by a change in the makeup of the survey group.