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Auto rates for Nov. 3, 2011

 

 

Sales are up as auto loan rates hold steady. The average rate for a 48-month new-car loan rose 1 basis point to 5.31 percent. The average rate for a 60-month new-car loan was also up, adding 2 basis points to 5.34 percent.

On the other hand, used-car loan rates fell. The average rate for a 36-month used-car loan slid 1 basis point to 6.35 percent.

It's been quite the BOOM for U.S. auto makers recently. U.S. car and truck sales rose 9 percent from October 2010 ... making October 2011 the best October in more than four years.

Of course as we head towards the end of the year, automakers try to get in as many sales as possible ... making it a great time for consumers to score some great deals.

Before you jump on any of these deals ... make you do your homework and find the best auto loan rates by visiting Bankrate.com. I'm Kristin Arnold.

 

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