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Auto rates for Nov. 7, 2013

 

I'm Lucas Wysocki with your weekly look at auto loan rates.

Rates on new and used car loans fell this week.

For a five-year new-car loan, the average rate fell three basis points to 4.01 percent. The average rate on a four-year new-car loan also declined three basis points to 3.92 percent. For used cars, the average rate on a three-year loan decreased three basis points to 4.48 percent.

For those in market for a new or used car, reliability is a huge selling point. Audi, Volvo and GMC made the Consumer Reports: Top 10 list in reliability that's typically filled with Japanese car brands. Every model from those brands scored average or better in reliability. Japanese brands took the other seven spots in the Top 10, including Lexus, Toyota and Acura in the top spots.

Consumer Reports calculated its rating based on survey responses from subscribers' experience with 1.1 million vehicles.

If you're in the market for a new or used car, you can shop for the best rates by using the free search engine at Bankrate.com. I'm Lucas Wysocki.

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