National auto loan rates
Here’s a look at the state of mortgage rates from Bankrate.com’s weekly national survey of large banks and thrifts conducted Dec. 23, 2009.
Rates: 6.77 percent (60-month, new car); 7.61 percent (36-month, used car)
Auto loan rates spent a second straight week in neutral. Rates on new-car loans didn’t budge; the average 48-month and 60-month rates stayed at 6.8 percent and 6.77 percent, respectively. Used-car loan rates rolled slightly higher; the average rate for a 36-month, used-car loan was up 1 basis point, to 7.61 percent. Rates for 60-month, new-car loans continued undercutting rates for shorter-term 48-month auto loans for the 26th week in a row.
Ford Motor Co. is set to debut a new version of its Sync communication and entertainment system that allows equipped cars and trucks to become WiFi hotspots, according to a report last week in The Detroit News. The system will have a USB port where drivers can plug in a cellular modem USB device, such as those offered by telecom companies Sprint or Verizon. Any device in the car with WiFi capabilities would then be able to tap into the resulting Internet connection. The company plans to debut the system at the Consumer Electronics Show in Las Vegas next month, according to the report.
To find updated auto rates in your area, visit Bankrate’s auto rate table.
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— Claes Bell