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Auto Rates for April 28, 2011

 

 

Auto loan rates were mixed this week. The average rate for a 48-month new-car loan fell two basis points to 5.51 percent. The 60-month new-car loan average fell a little less steeply ... to 5.57 percent.

Rate for used-cars loans went up this week. The average rate for a 36-month used-car loan cruised up four basis points to 6.47 percent.

While auto manufacturers are tempting consumers with great incentives like low to zero percent financing, local car dealers are running short following the earthquake in Japan last month. Japanese auto makers, Toyota and Mitsubishi are seeing their profits fall as they curtail auto production there.

If you're in the market for an auto, you can find the best rates at Bankrate.com. I'm Kristin Arnold.

 

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