auto

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 Bankrate.com. I'm Allison Ross.

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

Check credit before auto loan

The news that an auto finance company distorted consumer credit records for years is a good reminder to check your credit report regularly.  ... Read more


Connect with us