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Auto loan rates for April 11, 2013

Claes Bell

Interest Rate Roundup

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Auto Loans

  • 4.12% (60-month, new car)
  • 4.7% (36-month, used car)

Auto loan rates were flat this week in Bankrate's national survey.

Average rates for 60-month and 48-month new-car loans were unchanged at 4.12 percent and 4.04 percent, respectively.

Rates on used-car loans stayed put as well, with the average rate on a 36-month used-car loan stuck at 4.7 percent.

President Barack Obama's 2014 budget proposal includes millions of dollars' worth of funding for research into electric cars, according to a report from The Detroit News. The budget also calls for an increase in the tax credit for electric vehicles from the current $7,500 to $10,000.

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