auto

National auto loan rates for July 12, 2012

Interest Rate Roundup
Auto loan rate graph
Find the best auto rates in your area.

Auto Loans

  • 4.46% (60-month, new car)
  • 5.1% (36-month, used car)

Auto loan rates were a mixed bag in this week's rate roundup.

The average 60-month new-car loan rate is 4.46 percent for the second week. Also for the second week, the 48-month new-car loan rate is 4.31 percent.

For used cars, the average 36-month loan rate fell 1 basis point to 5.1 percent. A basis point is one-hundredth of 1 percentage point.

The price of the lithium-ion batteries used in electric cars are expected to plummet, reports a new study by the consulting firm McKinsey. And according to a story on the study on the website Automotive News, lower battery costs will make electric cars more affordable for consumers.

 

 

 

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
CAR & MONEY NEWSLETTER

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

FTC targets deceptive car ads

The FTC has taken action against two car dealership chains for deceptively advertising the costs of buying and leasing cars.  ... Read more


Connect with us