Auto loan rates for Feb. 14, 2013
Interest Rate Roundup
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Auto Loans
4.12% (60-month, new car)
4.71% (36-month, used car)
Auto loan rates stayed flat for the second straight week in Bankrate's survey.
Average rates for 60-month and 48-month new-car loans cruised along at 4.12 percent and 4.04 percent, respectively.
For used cars, the average rate on a 36-month loan stayed parked at 4.71 percent.
New-car prices are set to rise substantially over the next decade, thanks to new government fuel-efficiency standards, according to a report by the Detroit Free Press. By 2025, the Environmental Protection Agency estimates that the average price of a new car will have risen by $2,600 over 2011 prices. However, that price will buy a car that achieves 40 miles per gallon fuel economy on average, up from 20 mpg in 2010.
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