auto

National auto loan rates for March 22, 2012

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

Auto Loans

  • 4.59% (60-month, new car)
  • 5.32% (36-month, used car)

Auto loan rates showed signs of settling down this week. The average rate for a 48-month new-car loan added 2 basis points, rising to 4.5 percent, according to this week's Bankrate survey. The average rate for a 60-month new-car loan also rose, adding 1 basis point to 4.59 percent. A basis point is one-hundredth of 1 percentage point.

On the other hand, used-car loan rates set another record low this week. The average rate for a 36-month used-car loan fell 4 basis points, ending at 5.32 percent.

Auto leasing is making a comeback, according to a report by The Dallas Morning News. Because of high resale values and low interest rates, lease payments have fallen considerably in the last year, driving a newfound popularity that could drive leasing to 30 percent of vehicle sales, according to the article.

 

 

 

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

Convertible drivers more educated

Convertible drivers are more educated and more affluent than the average new car buyer.  ... Read more


Connect with us