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Auto Rates for June 2, 2011

 

 

(Voice of Bankrate.com reporter, Kristin Arnold talking)

Auto loan rates were down across the board this week. The average rates for 48-month new-car loans and 60-month new-car loans each fell 4 basis points, to 5.49 percent and 5.52 percent, respectively.

Rates for used-car loans were also lower. The average rate for a 36-month used-car loan shaved off 4 basis points, to 6.51 percent.

High fuel prices and dealerships running short on some popular models helped to slow auto sales in May. Japanese auto makers - Toyota, Honda and Nissan had the biggest sales declines ... as a result of the earthquake in March which caused parts shortages.

If the time and pricing is right to grab a new or used vehicle, make sure you shop for the best rates by logging onto Bankrate.com. I'm Kristin Arnold.

(END VIDEO CLIP)

 

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