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Auto rates for May 23, 2013

 

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

After remaining parked for the last four weeks, rates on used-car loans lurched higher this week. The average three-year used-car rate increased to 4.72 percent, and the average four-year used-car rate climbed to 4.54 percent. Both of these are four-month highs.

New-car loan rates were unchanged, with the average four-year new-car rate holding at 4.04 percent and the five-year new-car rate at 4.12 percent for the third week in a row.

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.

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