auto

Auto rates for March 15, 2012

 

 

I'm Greg McBride with Bankrate.com and here is your weekly look at auto loan rates.

It was another week of new record lows for auto loan rates. Both new and used car loan rates dropped further as lenders respond to the competition by cutting rates. The average 5-year new car loan rate is now 4.58 percent and has fallen for 5 weeks in a row.

Rates continue to fall on used car loans as well. The average 3-year used car loan rate has now fallen for 6 straight weeks and is at the new low of 5.36 percent.

Despite the steady drops in auto loan rates, there is still a wide disparity in the marketplace. While rates in the low single-digits are available to borrowers with good credit, the same borrowers could just as easily spot rates in the double-digits.

Your best defense against being taken for a ride on your auto loan is to shop around. To see the lowest car loan rates in your area, visit Bankrate.com.

I'm Greg McBride.

 

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

Air bag recall hits 7.8M cars

About 7.8 million cars have been recalled due to a possible problem with the airbags that could cause them to deploy unexpectedly.  ... Read more


Connect with us