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Auto loan rates for July 19, 2012

Claes Bell

Interest Rate Roundup

Find the best auto rates in your area.

Auto Loans

  • 4.46% (60-month, new car)
  • 5.1% (36-month, used car)

Auto loan rates were mixed this week.

The average rate for a 60-month new-car loan coasted along unchanged at 4.46 percent for the third week in a row. However, the 48-month new-car loan average rose 1 basis point to 4.32 percent.

The average rate for a 36-month used-car loan was flat, staying parked at 5.1 percent. A basis point is one-hundredth of 1 percentage point.

Millions of drivers of cars equipped with OnStar devices may get the opportunity to earn a little extra money, according to a report from The Detroit News. The service will soon allow subscribers to rent their vehicles through car-sharing middleman RelayRides without having to meet their customers in person to give them the key. Instead, the renter would simply arrange the rental online and unlock the car with a smartphone app or text message.

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