Auto Loans
- 5.22% (60-month, new car)
- 6.28% (36-month, used car)
Auto loan rates were mostly flat this week. The average rates for 48-month new-car loans and 60-month new-car loans each held steady at 5.15 percent and 5.22 percent, respectively.
Even so, used-car loan rates were up. The average rate for a 36-month used-car loan rose 3 basis points to 6.28 percent. A basis point is one-hundredth of 1 percentage point.
Americans are more willing than they were in the past to consider a diesel vehicle, according to a report in The Detroit News. Because they offer fuel economy up to 30 percent higher than gas models, recent surveys show 32 percent of American car shoppers are now willing to consider diesels, up from 12 percent just five years ago. That's led automakers to sharply increase the number of diesel models available in the U.S., which is set to rise from 25 in 2011 to 50 by 2014, according to the report.