Auto rates for June 5, 2014


Rates on auto loans seem to have stabilized after falling for several weeks. I'm Allison Ross with your weekly look at auto loan rates.

Rates stopped falling, but they weren't climbing either.

The average five-year new car loan held at 4.13 percent. The average rates on the three-year and four-year new car loans were also stuck in neutral at 4.03 percent and 4.05 percent, respectively.

The average rate on 36-month used car loans remained steady this week at 4.69 percent after falling the previous five weeks in a row.

The one outlier was the average rate of a 48-month used car loan, which fell just one basis point this week to 4.76 percent.

Sales of new cars in the United States reached a better-than-expected 1.6 million in May, according to Reuters. General Motors' recent recall woes did not appear to put a damper on its sales, with the automaker posting a 12.6 percent uptick, well above analyst expectations, Reuters reported.

For more on this and to find the very best rates for your next auto loan, just visit I'm Allison Ross.


Show Bankrate's community sharing policy
          Connect with us

Get cost-cutting tips for buying, selling and maintaining your wheels. Delivered monthly.

Partner Center


Tara Baukus Mello

Smartphones preferred over in-car tech

Automakers are spending billions on in-car technology that owners have no interest in using.  ... Read more

Connect with us