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Auto loan rates for April 18, 2013

Claes Bell

Interest Rate Roundup

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Auto Loans

  • 4.11% (60-month, new car)
  • 4.69% (36-month, used car)

Auto loan rates ticked down slightly this week in Bankrate's national survey.

Average rates for 60-month and 48-month new-car loans slid 1 basis point to 4.11 percent and 4.03 percent, respectively. A basis point is one-hundredth of 1 percentage point.

Rates on used-car loans were also down slightly, with the average rate on a 36-month used-car loan inching down 1 basis point to 4.69 percent.

This week, a panel of engineers at the 2013 SAE World Congress predicted that by 2025, there will be driverless cars on the road so advanced, they'll make distracted driving a nonissue for drivers who own them, according to a report by the Detroit Free Press. The engineers predict that a combination of technologies such as cameras, radar and lasers will allow cars to avoid accidents without input from human drivers, according to the report.

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