Follow Us: Google+
 
Bankrate.com

auto

Auto rates for Aug. 30, 2012

 

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

Auto sales keep picking up and auto loan rates continue to drive lower. The average 5-year new car loan rate is down to 4.37 percent and the average 4-year used car rate moved below the 5 percent mark for the first time ever, to 4.98 percent.

The most competitive rates, however, are below 3 percent – for both new and used car loans. Even in this low rate environment, some lenders can still charge rates north of 7 or 8 percent, so be sure to seek out your best options before you go to the dealership.

You can shop around to find the most competitive car loan rates in your area by visiting the free search engine at Bankrate.com.

I'm Greg McBride.

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Compare Auto Rates
zip code:
product:



advertisement
Most Read
  1. 6 tips for successful yard sale
  2. Nick Nolte's house for sale
  3. Social Security traps to avoid
  4. 7 sedans for the young at heart
  5. 8 eerie ghost towns
  6. 10 cars for a midlife crisis
  7. 5 car models that lose value
  8. Headlight requirements by state
  9. Ali Landry's house for sale
  10. 9 gas-only, fuel-efficient cars
Auto Averages
Product Rate +/- Last week
48 month used car loan
2.92% 2.97%
48 month new car loan
2.44% 2.45%
36 month used car loan
2.88% 2.92%
36 month new car loan
2.29% 2.30%
View rates in your area:
 

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
Customers are getting approved for car leases at the highest pace since the recession.

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.