auto

National auto loan rates for Jan. 19, 2012

Interest Rate Roundup
Auto loan rate graph
Find the best auto rates in your area.

Auto Loans

  • 5.22% (60-month, new car)
  • 6.26% (36-month, used car)

Auto loan rates inched downward this week for the second straight week. The average rate for a 48-month new-car loan was flat at 5.16 percent, but the average rate for a 60-month new-car loan fell 1 basis point to 5.22 percent. A basis point is one-hundredth of 1 percentage point.

Used-car loan rates were also down. The average rate for a 36-month used-car loan fell 1 basis point to 6.26 percent.

The average age of the U.S. auto fleet hit a record 10.8 years in 2011, according to a report by the Detroit Free Press. That number is up from the previous record of 10.6 years set in 2010. Average vehicle age has been rising since 1995, when it was 8.4 years, according to the report.

 

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Customize your Aston Martin car

Following in the footsteps of some other ultra-luxury car makers, Aston Martin is now offering buyers the opportunity to fully customize their cars.  ... Read more


Connect with us