- 4.1% (60-month, new car)
- 4.68% (36-month, used car)
Auto loan rates were mostly up this week in Bankrate's national survey.
Average rates for 60-month and 48-month new-car loans each rose 2 basis points, to 4.1 percent and 4.02 percent, respectively. A basis point is one-hundredth of 1 percentage point.
However, rates on used-car loans held steady, with the average rate on a 36-month used-car loan staying at 4.68 percent.
Carmakers are fighting proposed rules that would add a noise to electric, hybrid and other quiet vehicles to protect blind pedestrians from being caught unaware, according to a report by The Detroit News. Automakers say the proposed rules are too complicated and would make cars louder than necessary by imposing a standard louder than many conventional vehicles on the roads today. The National Highway Traffic Safety Administration estimates that the odds of a pedestrian being involved in a collision with a hybrid vehicle were 19 percent higher than with conventional vehicles, according to The Detroit News.
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