- 4.5% (60-month, new car)
- 5.21% (36-month, used car)
Auto loan rates bulldozed through previous record lows this week. The average rates for 48-month and 60-month new-car loans each lost 3 basis points, falling to 4.39 percent and 4.5 percent, respectively. A basis point is one-hundredth of 1 percentage point.
Used-car loan rates also came in at record lows. The average rate for a 36-month used-car loan fell 1 basis point to 5.21 percent.
Google is in talks with automakers to bring its self-driving car technology to U.S. cars sometime in the next 10 years, according to a report in The Detroit News. The company, which has logged about 250,000 miles of driving with its fleet of 10 self-driving cars on U.S. roads, could make an announcement as early as next year about the timetable for bringing its system to market.