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
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

2 years free charging from Nissan

Nissan is hoping to spur more sales of electric cars with an incentive that offers new buyers two years of free public charging.  ... Read more


Connect with us