auto

Auto Rates for June 9, 2011

 

 

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

Auto loans are down shifting this week. The average rate for a 48-month new-car loans fell 8 basis points to 5.41 percent. The 60-month new-car loan average fell even more, dropping 9 basis points, to 5.43 percent. Both of these averages set fresh all-time lows for Bankrate's auto loan survey.

Rates for used-car loans fell, but less dramatically. The average rate for a 36-month used-car loan gave up 1 basis point, to 6.5 percent.

*TransUnion reported a significant drop in the national 60-day delinquency rate on auto loans in the first quarter of 2011 compared with both the prior quarter and the comparable prior-year quarter. The average auto debt per borrower was $12,585 in the most recent quarter.

To find the best new and used auto rates, visit Bankrate.com. I'm Kristin Arnold.

 

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