auto

Auto rates for Jan. 31, 2013

 

I'm Doug Whiteman with your weekly look at auto rates.

Auto loan rates fell slightly to hit all-time lows this week with the average rate for a 5 year new-car loan losing 1 basis point to come in at 4.12 percent. The 4 year new-car loan also fell 1 basis point to 4.04 percent.

For used cars, the average rate on a 36-month loan fell 3 basis points to 4.71 percent.

With a record low rate environment for auto loans, there may never be a better time to buy, but don't visit a dealer without getting pre-approved for a loan first. If you get pinned with dealer financing, you could wind up paying hundreds more over the course of your loan.

To find the very best auto loan rates in your area, use the free search engine on Bankrate.com. I'm Doug Whiteman.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Labor Day road trips to increase

AAA Travel projects that 34.7 million Americans will travel more than 50 miles from home this Labor Day weekend, the highest volume since before the 2008 recession.  ... Read more


Connect with us