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.

 

 

 

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