- 4.47% (60-month, new car)
- 5.12% (36-month, used car)
Auto loan rates were mostly flat this week.
The average rate for a 48-month new-car loan held steady at 4.32 percent, but the average rate for a 60-month new-car loan was down slightly, dropping 1 basis point to 4.47 percent. A basis point is one-hundredth of 1 percentage point.
Used-car loan rates were unchanged, with the average rate for a 36-month used-car loan staying put at 5.12 percent.
Job growth in the overall U.S. economy may be lackluster, but it's going strong at the nation's auto dealerships. Dealerships employed 933,500 workers in 2011, representing a 4.6 percent increase over 2010, according to a National Automobile Dealers Association report released this week.