I'm Greg McBride, senior financial analyst with Bankrate.com, and here is your weekly look at auto loan rates.
Auto loan rates were on the move this week. Both new- and used-car loan rates pulled back to the lowest levels since mid-March. The average four-year new-car loan rate is now 4.02 percent, and the average four-year used-car rate settled at 4.5 percent. Both are near record lows.
These near-record-low auto loan rates come at the perfect time, as many car buyers are venturing back into the market after having postponed vehicle purchases in recent years.
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.
New car loan rates fell 1 basis point each.
Used car loan rates keep getting better.
Both new and used car loan rates shifted lower this week.
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