- 4.15% (60-month, new car)
- 4.84% (36-month, used car)
Auto loan rates fell a little bit for the second straight week.
Average rates for 60-month and 48-month new-car loans fell 1 basis point to 4.15 percent and 4.07 percent, respectively. A basis point is one-hundredth of 1 percentage point.
For used cars, the average rate on a 36-month loan was down 3 basis points to 4.84 percent.
Automakers showed off a wide variety of new electronic options for car buyers at this week's annual International Consumer Electronics Show, according to The Detroit News. Demand for such electronics has risen in recent years, with spending expected to reach $11.7 billion this year, according to the report.
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