Auto rates for Oct. 24, 2013


I'm Greg McBride, senior financial analyst with, and here is your weekly look at auto loan rates.

Rates for both new- and used-auto loans slammed into reverse this week. The average five-year new-car loan rate dropped to 4.04 percent. On used-car loans, the average four-year rate pulled back to 4.47 percent.

Lenders cutting car loan rates far outnumber those raising rates, and on average, rates remain close to record lows. Further, with the Federal Reserve likely to continue their bond-buying stimulus in its current form for some time and maintain short-term interest rates at near-zero levels for an even longer period of time, the outlook for auto loan rates and car buyers remains very strong.

For more information on auto loans and to find the best car loan rates in your area, check out the free search engine at

I'm Greg McBride.


Show Bankrate's community sharing policy
          Connect with us

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
Partner Center


Tara Baukus Mello

Labor Day road trips to increase

AAA Travel projects that 34.7 million Americans will travel more than 50 miles from home this Labor Day weekend, the highest volume since before the 2008 recession.  ... Read more

Connect with us