- 4.22% (60-month, new car)
- 4.79% (36-month, used car)
Rates on new and used car loans were mostly unmoved again this week, according to Bankrate's latest survey of interest rates.
Only the rate on the average four-year used car loan changed, rising 1 basis point to return to 4.88 percent.
A basis point is one one-hundredth of a percentage point.
That means the average rate on a 36-month used car loan held steady for the third straight week at 4.79 percent.
The average rates for new car rates also stayed the same for the third consecutive week, with the 36-month new car loan remaining at 4.12 percent and the average rates for a 60-month new car loan and a 48-month new car loan staying at 4.22 percent and 4.14 percent, respectively.
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