Auto Loans
- 5.34% (60-month, new car)
- 6.34% (36-month, used car)
Auto loan rates on new cars were unchanged for the fifth consecutive week. The average rates for 48-month and 60-month new-car loans remained stuck at 5.31 percent and 5.34 percent, respectively.
Used-car loan rates were also flat. The average rate for a 36-month used-car loan remained at 6.34 percent.
Black Friday sales likely made November the best month for U.S. car sales since the Cash for Clunkers program ended in 2009, according to a report from Bloomberg News. End-of-year and holiday sales incentives may be driving sales as buyers finally make auto purchases they've been deferring due to the struggling economy.