I'm Greg McBride, senior financial analyst with Bankrate.com and here is your weekly look at auto loan rates.
Rates for both new and used car loans fell still lower, resetting record lows. The average rate on a 5-year new car loan is down to 4.09 percent, while the average rate on a 4-year used car loan fell below 4-and-a-half percent for the first time, to 4.49 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.
Wondering if you really need that repair on your car? Cruise the Web to find the answer.
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