I'm Greg McBride, senior financial analyst with Bankrate.com and here is your weekly look at auto loan rates.
Auto loan rates remain on the move. Rates for used car loans fell sharply, with the average 3-year used car rate falling to a new low of 4.77 percent and the average 4-year used car rate resetting a record low of 4.59 percent.
New car loan rates held steady, with the average 5-year new car loan rate remaining at a record low of 4.15 percent.
But the lowest rates remain below 2.5 percent on both new and used car loans, so do not settle for average.
For more information on auto loans and to find the best car loan rates in your area, check out the free search engine at Bankrate.com.
I'm Greg McBride.