- 4.08% (60-month, new car)
- 4.55% (36-month, used car)
Rates on new- and used-car loans spiked this week, according to Bankrate's latest survey of interest rates.
For a 60-month new-car loan, the average rate rose 7 basis points to 4.08 percent from 4.01 percent. The average rate on a 48-month new-car loan jumped 8 basis points to 3.98 percent from 3.9 percent. A basis point is one-hundredth of 1 percentage point.
For used cars, the average rate on a 36-month auto loan increased 8 basis points to 4.55 percent from 4.47 percent.
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