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Auto rates for June 20, 2013

 

I'm Doug Whiteman with your weekly look at auto loan rate. Auto loan rates were mostly higher this week in Bankrate's national survey.

The average rates for five-year new-car loans and four-year new-car loans rose 2 basis points to 4.12 percent and 4.04 percent, respectively.

Rates on used-car loans were also higher, with the average rate on a 36-month used-car loan ramping up 1 basis point to 4.7 percent.

Auto loan rates have been yo-yoing up and down within a narrow range for much of 2013, with no clear direction. But bargains abound. Don't settle for average, and shop for financing before you walk into a dealership. To find the best auto loan rates in your area, use the free search engine at Bankrate.com. I'm Doug Whiteman.

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