Auto Loans
- 4.48% (60-month, new car)
- 5.12% (36-month, used car)
Auto loan rates were mostly unchanged this week.
The average rate for a 60-month new-car loan is up 1 basis point to 4.48 percent. The 48-month new-car loan rate is unchanged from last week at 4.32 percent. A basis point is one-hundredth of 1 percentage point.
For used cars, the average rate on a 36-month used-car loan remains at 5.12 percent.
Customer satisfaction with car insurance companies is at an all-time high, according to a survey released this week by J.D. Power and Associates. The survey measured satisfaction across several categories including price, interaction, policy offerings, billing, and payment and claims.
Though consumer satisfaction with prices remained at last year's level, people are much happier with car insurance companies in the other categories surveyed, with one in particular.
"Specifically in the area of policy offerings, a number of insurance companies place an emphasis on product differentiation in their advertising and packaging of discounts and offerings," Jeremy Bowler, senior director of the insurance practice at J.D. Power and Associates, said in a press release announcing the survey results.