- 4.24% (60-month, new car)
- 4.71% (36-month, used car)
Rates on new and used car loans were mixed this week, according to Bankrate's latest survey of interest rates.
The average rate for a 60-month new car loan rose 4 basis points to 4.24 percent. The average rates for both 36-month and 48-month new car loans also increased 4 basis points, to 4.03 percent and 4.14 percent, respectively.
A basis point is one-hundredth of 1 percent.
Rates on used car loans were unchanged this week, staying at 4.9 percent for a 48-month used car loan and 4.71 percent for a 36-month used car loan.
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