Auto Loans
- 5.22% (60-month, new car)
- 6.25% (36-month, used car)
Auto loan rates were mostly down this week. The average rate for a 48-month new-car loan fell 1 basis point to 5.15 percent. A basis point is one-hundredth of 1 percentage point. The average rate for a 60-month new-car loan, on the other hand, held steady at 5.22 percent.
Used-car loan rates were also down. The average rate for a 36-month used-car loan fell 1 basis point to 6.25 percent.
This week, Consumer Reports released the results of its annual Car-Brand Perception Survey, which surveys consumer attitudes about brand attributes such as safety, quality, value and performance. Toyota was the winner, followed by Ford, Honda, Chevrolet and Mercedes-Benz. However, all the top brands saw their scores fall significantly since last year, diminishing their lead over less-well-known brands.