Auto loan rates in our weekly survey fell back to a level at or near all-time lows. The average rates for 48-month new-car loans and 60-month new-car loans each were down 2 basis points, sliding to 5.42 percent and 5.45 percent, respectively.
Rates for used-car loans fell below last week's all-time low. The average rate for a 36-month used-car loan lost another 4 basis points, to 6.42 percent.
The American auto industry was a hot topic for President Obama this week as he pushed Congress to pass several pending trade agreements to help boost the U.S. auto industry. South Korea, Colombia and Panama could be seeing more American cars if export agreements are reached. Obama said the deals would improve sales of American autos abroad and continue to aid the auto industry.
No matter if you're in the market for an American or foreign vehicle ... you can shop the best rates on Bankrate.com. I'm Kristin Arnold.