Here's a look at the state of interest rates on five common consumer banking products and the latest rates from Bankrate.com's weekly national survey of large banks and thrifts conducted March 19, 2008.
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Auto loans
Rates: 7.19 percent (60-month, new car); 7.98 percent (36-month, used car)
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Following the Fed's slice of short-term interest
rates Tuesday, auto loan rates shifted downward. The 60-month new-car
loan rate fell 3 basis points to 7.19 percent. The 48-month and 36-month
new-car loan rate each fell 2 basis points to 7.16 percent and 7.09 percent,
respectively.
The 36-month used-car loan rate dipped below 8 percent, falling 3 basis points to 7.98 percent. The 48-month used-car loan fell 4 basis points to 8.08 percent.
If you have about a hundred grand to drop on a car, an interest in cutting-edge technology and some time to wait for it, you may be interested in a new car going into production this month. Billed as "the only highway-capable production electric car of any kind for sale in the United States," the Tesla Roadster goes from 0 to 60 in 3.9 seconds. According to the press release, the 2008 model has sold out and they're currently taking reservations for 2009.
-- Sheyna Steiner
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July 30 - Aug. 5
