- 4.46% (60-month, new car)
- 5.11% (36-month, used car)
Auto loan rates moved down in this week's rate survey.
The average 60-month new-car loan rate dropped 2 basis points to 4.46 percent. The 48-month new-car rate is down 1 basis point to 4.31 percent.
For used cars, the average 36-month loan rate fell 1 basis point to 5.11 percent. A basis point is one-hundredth of 1 percentage point.
Millions of people fantasize about snoozing or reading on their commute while their car does all the work. That dream was one step closer to reality Monday in California, where the state Assembly pushed forward a bill that would establish rules for driverless cars, the website Computerworld.com reported Tuesday.
Florida and Nevada already have passed laws legalizing the testing of driverless cars.