auto

Auto rates for May 1, 2014

 

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

Even though increases outnumbered decreases, the magnitude of the decreases won out, and auto loan rates moved lower this week. On new car loans, the average five-year rate fell to 4.18 percent, the lowest level since mid-February.

Used car loan rates declined also, with the average four-year loan rate dipping to 4.84 percent, the lowest point of 2014.

Low auto loan rates and an improving economy bode well for the pace of auto sales throughout the balance of the year.

For more information on both new and used car loans, go to Bankrate.com.

I'm Doug Whiteman.

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