- 4.09% (60-month, new car)
- 4.69% (36-month, used car)
Rates on used-car loans inched up this week, while auto loan rates for new cars stayed steady, according to Bankrate's latest survey of interest rates.
For a 60-month new-car loan, the average rate stood at 4.09. The average rate on a 48-month new-car loan was 4.01 percent, also unchanged from last week.
For used cars, the average rate on a 36-month loan increased 2 basis points to 4.69 percent from 4.67 percent last week. A basis point is one-hundredth of 1 percentage point.
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