New car loan rates have improved slightly over last week’s offerings based on the most recent survey of car loan rates performed by Selectautorates.com. The monthly jobs report was released on Friday which is one of the biggest barometers on economic activity and is frequently a big force behind interest rate movements. The report was disappointing which helped nudge bank rates and car loan rates marginally lower.
The jobs report data was worse than expected, reporting that there were essentially no new jobs created in August. Poor economic data such as this is generally good for consumer borrowing costs since a slow economy leads to low demand, low inflation and low interest rates.Â
In the past few weeks there has been as greater than normal variation in car loan rate offerings between auto lenders and auto finance companies in the weekly car loan rate survey. The best auto loan rates and pricing provided by the auto lenders in the weekly survey are generally seen as the most aggressive rates available and often reserved for the most creditworthy borrowers.
For the week ending September 2, 2011 new car loan rates drifted down to 3.37 percent from 3.38 percent in the prior week.  The 60 month term new car loan moved down to 3.48 percent, the same as the previous week. The 48 month new car loan rates held at 3.40 percent. 36 month new car loan rates also remained stable for the week with an average interest rate of 3.28 percent.
Used car loan rates were unaltered from the prior week with the average rate covering 60 month term loans, 48 month term loans and 36 month used car loans staying at 3.81 percent. The rate on 60 month used car loans was held at 3.87 percent. 48 month term used car loan rates ticked down slightly to 3.78 percent from 3.79 percent in the week earlier survey. 36 month use car loan rates remained 3.74 percent.
Car loan refinance rates were mixed with short term rates lower and long term rates higher. While the rates did show some changes the variations were very modest. The 48 month car loan refinance rate increased to 3.96 percent. The shorter term, 36 month, car loan refinance rate slipped by one basis point to 3.83 percent.
The car loan rates listed in the Selectautorates.com survey are current as of September 2, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey; however the rates offered may change at any time.
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan rates were virtually unchanged over the past week. Based on the most recent survey of new car loan rates and used car loan rates performed by Selectautorates.com, the average car loan rate was cheaper by less one basis point for the week ending August 26, 2011. The average car loan rate from the top auto lenders ended this week at 3.645 percent after dropping to 3.649 percent in the previous week. One basis point is equal to 1/100th of a percent.
Even though there was only a slight change in car loan interest rates this week, car loan rates have now set a new low for the year. Interest rates and bank lending rates had moved higher over the week but interest rates improved measurably on Friday bringing down the average car loan rate by a very small margin.
As auto loan rates continue their long downward move this year, there has become a greater than normal variation in the rates offered between auto lenders. Some auto lenders may not be reducing their rates as fast to avoid getting whiplashed should rates change abruptly. Another explanation is that an equal amount of car loan lenders are becoming very aggressive with their advertised new car loan rates when in fact these loans are reserved for all but the most creditworthy borrowers and even add special conditions needed to obtain the ultra low advertised rates.
For the week ending Augusts 26, 2011 new car loan rates drifted down to 3.38 percent. The 60 month term new car loan was 3.49 percent, the same as the previous week. The 48 month new car loan rates slipped to 3.40 percent. 36 month new car loan rates changed by less than one basis point and were recorded at 3.28 percent.
Used car loan rates were marginally higher with average rate across all loan terms of 3.81 percent. 60 month used car loan rates tacked on one basis point, pushing the average rate to 3.87 percent. 48 month term used car loan rates were undisturbed at 3.79 percent. The 36 month term used car rates were also held in check at 3.74 percent.
Car loan refinance rates were a hair down for the week. The 48 month refinance interest rate was lower at 3.95 percent. The 36 month car loan refinance rate was up an equal amount pushing the rate up to just 3.84 percent.
The car loan rates listed in the Selectautorates.com survey are current as of August 26, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey; however the rates offered may change at any time.
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan borrowing costs continued the trend of the second quarter and moved lower for the week ending August 19, 2011. Consumer borrowing costs for new car loans are new record lows following this week’s interest rate reduction.
A number of auto lenders have greatly improved their consumer rate quotes over the past six weeks. Even with the steady trend of lower interest rates, there is an increased amount of variety in what individual auto lenders are now quoting as the lowest car loan rates.
The wider spread among bank auto rates is due to the flattening yield curve and the instability or volatility in bank rates which can increase the cost of doing business for auto lenders and some lenders will hold rates slightly higher as secondary market rates move lower.
The Selectautorates.com weekly car loan rate survey showed that the average national car loan rate slipped by just under one basis point, dropping to 3.649 percent from 3.658 percent in the previous week. The national car loan rate measures the rate on rates on new car loans, used car loans and refinance auto loans across multiple loan terms. One basis point is equal to 1/100th of a percent.
For the week ending Augusts 19, 2011 the rate on new car loans was lower by one basis point. The average rate on the 60 month term car loan came in at 3.49 percent. The 48 month new car loan rates closed the week with rate of 3.41 percent. The shortest term new car loan in the survey, the 3 year term loan, ended the week unchanged at 3.28 percent.
Used car loan rates were lower by amount similar to that found in the average rate for new car purchases.  The rate for 60 month term used car loan dipped down by one basis point to 3.86 percent. The 48 month used car loan was also declined by one basis point, dropping down to 3.79 percent. Used car loans with a 36 month term displayed no change in rate and remained at 3.74 percent.
Interest rates for car loan refinances were unchanged across all terms. The 48 month refinance rate stayed put at 3.96 percent. The short term, 36 month, refinance rate stayed at 3.83 percent.
The car loan rates listed in the Selectautorates.com survey are current as of August 19, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Consumer borrowing costs on new and used auto loans refused to move yet again this past week.Â
This is the second consecutive week in which in car loan rates have failed to show any measurable change in the average rate. Even with the lack of movement on interest rates over the past two weeks, car loan rates for used car loans and new car loans are at their low point for the year.
The average national car loan rate, covering new car loans, used car loans and refinance auto loans ended the week within one basis point of where it started the week. The average car loan rate, based on the weekly car loan rate survey performed by Selectautorates.com, ended August 12, 2011 at 3.658 percent.
New car loan rates were little changed with only the 60 month term loan ending the week with a change in the average rate. The average rate for a 60 month new car loan dropped by just one basis point or 1/100th of a percent to 3.50 percent. 48 month new car loan rates and 36 month new car loan rates were unchanged with the average rate for these term car loans holding at 3.42 percent and 3.28 percent, respectively.
The average rate on used car loans were predominantly unchanged as well with just the 48 month loan displaying a minor drop in rate. The rate for used car loans with a 60 month term was left unaltered at 3.87 percent. The interest rate on 48 month car loans slipped lower by one basis point to 3.80 percent. 36 month used car loan rates held steady for the week with an interest rate at 3.74 percent.
Refinance car loan rates were down slightly week over week, but the rate reduction was less than one basis point and did not alter the average rates from the previous week. The interest rate for a 48 month term car loan refinance remained at 3.96 percent while the 36 month term car loan refinance stayed at 3.83 percent.
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
The car loan rates listed in the Selectautorates.com survey are current as of August 12, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.
Auto loan rates remained in neutral this past week. The average rate for new car loan rates, used car loan rates and refinance auto loan rates moved by less than one basis point or 1/100th of a percent for the week ending August 5th, 2011.
Bank lending rates including auto loan rates moved lower during the week but rebounded on Friday as savings rates and lending rates at the nation’s largest bank increased in response to better than expected economic news. By the close of the week, car loan rates ended almost exactly where they had started.
New car loan rates were unchanged across the board this week. The average rate on new car loans covering the 60 month term loan, 48 month term loan and 36 month term loan held at 3.38 percent. The average used car loan rate covering the same loan terms bumped up by one basis point to 3.76 percent. Refinance auto loan rates moved in the opposite direction and moved lower by one basis point to 3.85 percent.Â
The average rate for a 60 month new car loan was unchanged at 3.51 percent. 48 month new car loan rates remained at 3.42 percent. The shortest term new car loan in the weekly survey, 36 months, was also unchanged this week and remained at 3.28 percent.
Used car loan rates displayed a minor change on the week. The rate for used car loans with a 60 month term increased to 3.87 percent. 48 month car loan rates were also up by one basis point to an average rate of 3.81 percent. The 36 month term loan or used car purchases was unyielding, leaving the average rate at 3.74 percent.
Car loan rates for a loan refinance transactions barely moved, dropping on average by just one basis point. The rate on the 48 month car loan refinance dipped down to 3.96 percent from 3.97 percent in the prior week. The 36 month term loan did not change, holding for the third consecutive week at 3.83 percent.
The car loan rates listed in the Selectautorates.com survey are current as of August 12, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
New car loan rates made modest improvements last week despite all the market uncertainty gripping the interest rate markets. The potential for a U.S. default because of the protracted the debt ceiling debate had put the markets in a tizzy. However, weak economic fundamentals are still driving bank rates generally and car loan rates specifically. A poor financial outlook and dismissal economic indicators are usually supportive of lower auto loan rates. By the time Friday rolled around, weak economic data ruled the day and consumer borrowing costs for auto financing improved.
Based on the most recent survey of auto finance lenders performed by Selectautorates.com, the average car loan rate for both new car loans and used car loans increased by one basis point or 1/100th of a percent this past week.  The average rate for new car loans, covering 36 month term car loans through 60 month term loans, ended the week on July 29 at 3.38 percent. The average interest rate for used car loans moved lower to 3.75 percent. Car loan refinance rates were once again unchanged at 3.86 percent.
60 month term car loan rates on new car purchases held steady for the week at 3.51 percent. On the 48 month term car loan, the average interest rate dropped by one basis point to 3.42 percent. 36 month new car loan rates slipped by a similar amount, ending the week at 3.28 percent.
60 month used car loan rates shifted down by a basis point, placing the average rate on the 60 month used car loan at 3.86 percent. The 48 month used car loan rate displayed no action on the week holding at 3.80 percent. The 36 month used car loan rate traveled a hair lowers to 3.74 percent at week’s end.
Interest rates on car loan refinance transactions were untouched for the second consecutive week. The rate for a 48 month refinance car loan remained at 3.97 percent, while the interest rate for a shorter term, 36 month refinance, stayed at 3.83 percent.
New car loan rates, used car loan rates and refinance car loan rates listed in the Selectautorates.com weekly survey are current as of July 29, 2011. All car loan rates in the survey are obtained directly from the bank auto lenders. The interest rates listed generally represent the best loan rates available to consumers based on the loan applicant’s credit worthiness, down payment and income.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
National car loan rates moved just marginally lower this week. The average rate for both new car loans and used car loans slid down by one basis point or 1/100th of a percent week over week. The national average rate for new car loans, covering 36 month term car loans through 60 month term loans, ended the week on July 22nd at 3.39 percent. The national average car loan rate for used car loans closed out the week at 3.76 percent. Car loan refinances saw no change in the average interest rate, holding at 3.866 percent.
The average interest rate for 60 month term car loans from the top auto lender in the Selectautorates.com weekly survey followed the average rate and dropped by one basis point. The average rate for new 60 month auto loan was reduced to 3.51 percent. The average rate for 48 month new car loans was unchanged at 3.43 percent. The short term, 36 month new car loan rate was also lower by just one basis point, ending the week with an average rate of 3.29 percent.
Used car loan rates moved lower on just the midterm, 48 month loan, and held stable for the 60 month term used car loan and 36 month loan. The average rate for a used car loan with a 60 month term remained at 3.87 percent. The 48 month used car loan rate dipped down to 3.80 percent. The 36 month used car loan rate was unaltered from the previous week at 3.75 percent
Refinance car loan rates were entirely unchanged for both loan terms measured in the weekly car loan rate survey. The average rate for a 48 month refinance car loan held at 3.97 percent. The 36 month car loan refinance rate lingered at 3.83 percent.
Car loan rates listed in the Selectautorates.com weekly interest rate survey are current as of July 22nd, 2011. All car loan rates in the survey are obtained directly from the bank auto lenders in the survey. The interest rates listed generally represent the best rates available to most credit worthy borrowers with a sufficient down payment. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan rates from the nation’s top auto lenders were stuck in the neural this week. The average rate for new car loans was unchanged while the average rate for used car loans dipped just modestly. Car loan refinance rates were also little changed week over week.Â
Based on the current auto loan rate survey performed by Selectautorates.com, the average rate for new auto loans was unchanged at 3.400 percent. The interest rate on used car loans moved down just marginally, closing out the week with an average rate of 3.777 percent and the average rate for car loan refinances was also unchanged at 3.866 percent
The average new car loan with a 60 month term experienced a rate drop of less of one basis point or 1/100th of a percent leaving the displayed rate at 3.52 percent. A 48 month new car loan rate slipped to 3.43 percent.  The average rate for a 36 month new car loan held at 3.30 percent.
In the used car loan category, the 60 month used car loan rate was down by one basis point to 3.87 percent. The intermediate term, 48 month used car loan rate was unaltered at 3.81 percent. The short term, 36 month used car loan rate reversed direction and increased by one basis point to 3.75 percent
Auto loan rates in for refinance transactions were mixed. The average rate for 48 month car loan refinance ticked higher to 3.97 percent. The car loan interest rate on a 36 month refinance loan drifted downward by slightly more than one basis point to an average rate of 3.83 percent.
Car loan rates listed in the Selectautorates.com weekly interest rate survey are current as of July 15, 2011. All car loan rates in the survey are obtained directly from the bank auto lenders in the survey. The interest rates listed generally represent the best rates available to most credit worthy borrowers with a sufficient down payment. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region.Â
To review the complete list of car loan rates from the most current auto loan rate survey posted by term please see the following rate tables: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan rates reversed direction this week and declined modestly after having increased in the previous week. Interest rates reversed direction for a number of lending products, not just auto loans. For the week ending July 8, 2011 most bank rates headed south including mortgage rates, new auto loan rates, used auto loan rates and even Treasury rates.
While car loan interest rates decreased for both new auto loans and used auto loans, the overall average rate reductions were quite modest with some auto loan terms remaining unaltered week over week.
The Selectautorates.com weekly car loan rate survey indicated that interest rates for all loan terms dipped down by just over one basis point or 1/100th of a percent.  The average rate for all car loan terms ended the week at 3.658 percent after reaching 3.669 percent the week earlier.
The average auto loan rate for a 60 month new car loan held steady week over week with an interest rate at 3.52 percent. Unlike the long term, 60 month new car loans, the shorter term car loans managed to move slightly to the down side. The car loan interest rate on a new car loan with a 48 month term moved down to 3.43 percent. The 36 month new car loan rate was cut back by one basis point to 3.30 percent.
Used car loan rates were mostly unchanged with the exception of the five year term loan. The 60 month used car loan rate was lower by one basis point to an average rate of 3.88 percent. The 48 month and 36 month used card loans remained in neutral for the week. The average 48 month used car loan rate lingered at 3.81 percent while the 36 month used car loan rate was kept in check at 3.74 percent.
Car loan refinance rates hung on this week without a discernible change in the average rate. . The rate for 48 month car loan refinance continued at 3.96 percent. The interest rate on a 36 month refinance car loan paused this week, holing the prior week’s level of 3.82 percent.
The car loan rates listed in the Selectautorates.com survey are current as of July 8, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto lenders in the survey.Â
The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The rates obtained are generally those rates available for the most creditworthy borrowers. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.
See a complete list of car loan rates from the most current auto loan rate survey posted by term: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Auto loan rates increased modestly for the week ending July 1, 2011. During the last week of June, bank rates increased almost across the board from auto loans rates to mortgage rates. As an example of the interest rate movements during the week, from the closing price on June 24th to July 1st, the Treasury one year rate increased by four basis points rising to 0.20 percent from 0.16 percent. The five year Treasury increased to 1.80 percent from 1.40 percent during the same time frame. In relation to these fairly significant rate increases, the uptick in car loan rates was quite subdued.
Auto loan rates in the Selectautorates.com weekly survey were higher across most loans terms and car loan products.  The average auto loan rate for a 60 month new car loan increased 1 basis point or 1/100th of a percent to 3.52 percent. The interest rate on a new car loan with a 48 month term also increased by one basis point to 3.44 percent. The short term, 36 month new car loan rate remained unchanged at 3.31 percent.
Used car loan rates swung a little more dramatically by week’s end. The average rate on a 60 month used car loan bumped up two basis points to 3.89 percent. Used card loans with a 48 month term ended the week up one basis point to 3.81 percent. The short term, 36 month used car loan rate was also up two basis points to a rate of 3.74 percent.
Car loan refinance rates were fairly stable. The average rate for a 48 month car loan refinance was up by one basis point to 3.96 percent. The average rate on a 36 month refinance car loan rate held stable for the week at 3.82 percent.
The uptick in bank rates and auto loan rates was mostly the result of better than expected economic news that led investors out of interest sensitive assets. When expectations of an expanding economy escalate, investors and lenders become concerned over a rising interest rates and inflation rates. The net result of this activity is an increase in bond rates, bank rates and lending rates.
The car loan rates listed are current as of July 1st, 2011. All car loan rates in the Selectautorates.com survey are obtained directly from the bank auto lenders and car finance companies found in the survey. The car loan rates are current at the time of the survey but are subject to change without notice by the auto lenders and may vary by geographic location of the borrower. The auto interest rates and loan terms may also vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
See a complete list of car loan rates from the most current auto loan rate survey posted by term: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Auto loan rates were mostly unchanged for the week ending June 10th, 2011. Overall, bank rates and U.S. Treasury rates were little changed on the week. A one year Treasury rate increased by one basis point or 1/100th of a percent and the 10 year Treasury was unchanged at 2.99 percent. The long slide in car loan rates has very little room to move much lower. Based on the Selectautorates.com weekly car loan rate survey, the average car loan rate covering various terms of new car loans, used car loans and refinance car loans ended the week at 3.734 percent. The Selectautorates.com average car loan rate is a composite rate of the top ten best car loan rates for new car loans, used car loans and refinance car loans.
The average new car loan rate covering 3 year, 4 year and 5 year loan terms ended this past week at 3.487 percent. The average new car loan rate for the 60 month term loan decreased by one basis point to an average rate of 3.597 percent. The average rate for a 48 month term new car loan also dipped by one basis point to end the week at 3.501 percent. The average rate for new car loan with a 36 month term remained unchanged with an interest rate of 3.364 percent.
The average used car loan rate covering 3 year, 4 year and 5 year loan terms closed out at 3.842 percent. The average used car loan rate on 60 month loan ended the week at 3.918 percent. The average rate for a 48 month used car loan ended at 3.857 percent. The 36 month used car loan rate has an average interest rate of 3.750 percent.
The average rate for car loan refinance covering the 36 month and 48 month term ended this week at 3.943 percent. The average 48 month car loan refinance rate was 4.014 percent and the average 36 month refinance car loan rate was 3.872 percent.
The Selectautorates.com survey of bank car loan rates collects the current rate information on new and used auto loans as well as refinance car loans from the largest auto lenders across the nation.
The car loan rates listed are current as of June 10th, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank auto finance lenders in the survey. The car loan rates listed in the survey are subject to change without notice by the auto lenders and may vary from region to region. The auto interest rates and loan terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
See a complete list of car loan rates: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan rates moved moderately higher for the week ending February 4, 2011. The average national car loan rate based on the weekly car loan rate survey performed by Selectautorates.com was 4.11 percent, up slightly from the previous week’s average car loan rate of 4.09 percent. The national average car loan rate is a composite rate of the top ten best car loan rates for new car loans, used car loans and refinance loans.
The average new car loan rate with a 60 month increased by two basis points or 2/100’s of a percent to an average rate of 3.96 percent. The average car loan rate for a 48 month term new car loan also moved higher by three basis points to end the week at 3.85 percent. The 3 year new car loan rate increased by just one basis point to 3.70 percent.
The average car loan rate on 60 month used car loan ended the week at 4.41 percent. The rate for a used car loan with a 48 month term ended at 4.33 percent. The 3 year used car loan rate closed the week with an average rate of 4.22 percent.
For car loan refinance transactions, interest rates were little changed. The average 4 year car loan refinance rate ended the week at 4.25 percent, unchanged from the previous week.  The average 3 year refinance car loan rate came in at 4.14 percent, up slightly from the prior week.
The Selectautorates.com survey of bank car loan rates collects the current rate information on new and used auto loans as well as refinance car loans from the largest bank lenders across the nation.
The car loan rates listed are current as of February 4, 2011. All car loan rates in the weekly rate survey are obtained directly from the bank lenders in the survey. Car loan rates listed are subject to change without notice and may vary from region to region. The interest rates and terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
View our rate tables for information on current auto loan rates from the top car lenders in the nation. The car loan rate tables list the annual percentage rates by loan type and loan term.
See a complete list of car loan rates: 36 month new auto loan rates, 48 month new auto loan rates, 60 month new auto loan rates, 36 month used auto rates, 48 month used auto loan rates, 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Car loan rates were fractionally lower for the week ending December 31, 2010. This is second consecutive week of modestly reduced rates for auto loans. The current national car loan rate dipped four basis points or 4/100’s of percent on the week. The average national car loan rate as measured by the Selectautorates.com weekly survey of the best auto loan rates was 4.07 percent, down from the previous week’s average loan rate of 4.11 percent.Â
The weekly survey of car loan rates performed by Selectautorates.com covers new car loan rates and used car loans rates with terms of 36 months, 48 months and 60 months as well as refinance car loan rates with terms of 36 months and 48 months.
The average 60 month car loan rate for a new car purchase ended the week at 3.93 percent. This rate is slightly higher than the previous week’s average rate of 3.92 percent. The 48 month car loan rate ended at 3.82 percent, down two basis points from the prior week. A 36 month new car loan had an interest rate of 3.68 percent which is measurably lower than the prior week’s rate of 3.75 percent.
The average interest rate on 60 month used car loan ended the week at 4.26 percent or seven basis points lower than prior week of 4.33 percent. The 48 month used car loan rate term ended at 4.16 percent, a significant reduction from last week’s average rate of 4.28 percent. The 36 month used car loan rate closed higher on the week, jumping up to an average interest rate of 4.33 percent.
A 48 month refinance car loan rate ended with an average of 4.28 percent or two basis points lower than the previous week’s average rate of 4.30 percent. A 36 month term refinance car loan rate is at 4.28 percent, this is an increase of four basis points from the preceding week’s average rate of 4.24 percent.
The Selectautorates.com survey of bank car loan rates collects the current rate information on new and used auto loans as well as refinance car loans from the largest bank lenders across the nation.
The car loan rates listed are current as of December 31, 2010. All car loan rates in the weekly rate survey are obtained directly from the bank lenders in the survey. All auto loan rates are subject to change without notice and may vary from region to region. The rate and terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower.Â
View our rate tables for information on current auto loan rates from the top car lenders in the nation. The car loan rate tables list the annual percentage rates by loan type and loan term.
To find more information on the best new car loan rates, used car loan rates and car loan refinancing refer to 36 month auto loan rates, 48 month auto loan rates, 60 month auto loan rates, 36 month used auto rates, 48 month used auto loan rates , 60 month used auto loan rates, 36 month car loan refinance rates and 48 month car loan refinance rates.
Auto loan rates moved marginally lower for the week ending December 27, 2010. As most bank lending rates were heading higher in the past few weeks, most notably mortgage rates, auto loan rates managed to come down for most all auto loan terms on both used and new cars.Â
Low car loan rates have continued this week mostly due to some of the largest banks keeping their rates relatively low while other loan rate rise. The lower rates of just a few of the largest U.S banks once again underscores the importance of shopping and comparing car loan rates d when looking for a new car loan.
In the most recent survey of car loan rates performed by Selectautorates.com, the average auto loan rate covering all loan terms and loan types from 60 month new car loans to 36 month used car loans, closed out the week with an interest rate of 4.11 percent. The Selectautorates.com survey of bank car loan rates collects the current rate information on new and used auto loans as well as refinance car loans from the largest bank lenders across the nation.
The average rate on a new car loan with a 60 month term ended the week of December 27 at 3.92 percent. A new car loan rate for a 48 month term loan ended at 3.84 percent. A 36 month loan for a new car closed the week with an interest rate of 3.75 percent.
The average rate for used car loan with a 60 month term ended the week at 4.33 percent. A used car loan with a 48 month term ended at 4.28 percent. A 36 month used car loan rate closed at 4.22 percent.
The average rate for a car loan refinance with a 48 month term dropped to 4.30 percent while the interest rate on a car loan refinance with a 36 month term is at 4.24 percent.
The car loan rates listed are current as of December 27, 2010. All car loan rates in the weekly rate survey are obtained directly from the bank lenders in the survey. All auto loan rates are subject to change without notice and may vary from region to region. The rate and terms may vary based on the creditworthiness of the individual and other factors such as the down payment and income of the borrower. All car loans and car loan rates require lender approval.
To find current auto loan rates by bank lender, loan type and loan term for both new and used car purchases or for a refinance of an existing auto loan, view the enclosed auto loan rate tables. The auto loan rate tables are designed to provide straightforward, rate data to help consumers select the best car loan rate and loan term to meet their needs.
To find more information on the best new car loan rates refer to the new auto loans table by loan term at 36 month auto loan rates, 48 month auto loan rates and 60 month auto loan rates . To find more information on the best used car loan rates refer to the used auto loan table by term at 36 month used auto rates, 48 month used auto loan rates and 60 month used auto loan rates. To find more information on the best car loan refinance rates refer to the auto loan refinancing table by term at 36 month car loan refinance rates and 48 month car loan refinance rates.
Auto loan rates held steady for the week ending October 29, 2010. New car loan purchase rates, used car loan rates as well as car loan refinance rates stayed within a very narrow range for the week. As bank cost of funds dropped throughout 2010, car loan rates have slowly followed suit. Now that bank cost of funds are leveling off, auto loan rates are leveling off as well and are displaying fewer fluctuations.
In the most current survey of bank car loan rates performed by Selectautorates.com, the average auto loan rate covering all loan terms and loan types, ended the week at 4.55 percent. The Selectautorates.com survey of bank car loan rates collects the current rate information on new and used auto loans from the largest bank lenders.
The average car loan rate on new car loan for a 60 month term stood at 4.39. The car loan rate for new model car with a 48 month term was 4.34 percent. The short term, 36 month, new car loan rate closed the week at 4.27 percent.
The average rate for used car loan with a 60 month term was 5.08 percent. The 48 month term used car loan rate ended at 4.58 percent. The three year term used car loan rate held at 4.76 percent.
The average auto loan rate on a 48 month car loan refinance is at 4.52 percent. The rate on a car loan refinance with a 36 month term is at 4.46 percent.
To find updated auto loan rates by lender, loan type and loan term for both new and used car purchases or for a refinance of an existing auto loan, view the enclosed auto loan rate tables. The auto loan rate tables are designed to provide straightforward, rate data to help consumers select the best car loan rate and term to meet their needs.
Car loan rates in the weekly survey are current as of November 1, 2010 but are subject to change at any time. All car loans and car loan rates require lender approval.
To find more information on the best new car loan rates refer to the new auto loans table by loan term at 36 month auto loan rates, 48 month auto loan rates and 60 month auto loan rates . To find more information on the best used car loan rates refer to the used auto loan table by term at 36 month used auto rates, 48 month used auto loan rates and 60 month used auto loan rates. To find more information on the best car loan refinance rates refer to the auto loan refinancing table by term at 36 month car loan refinance rates and 48 month car loan refinance rates.
Auto loan rates managed to move lower across the board over the past week according to the weekly survey of the top auto lenders performed by selectautorates.com. Both new and used car loan rates were down modestly for the week across all loan terms or maturities. Car loan refinance rates were lower as well according to the survey. Â
The average car loan rate from the top ten auto lenders on a 60 month term car loan ended the week lower by two basis points or 2/100 of a percent. The average rate on a new car loan with a 60 month term closed the week at 4.45%.
The average rate for the 48 month auto loan was down by two basis points as well, which pushed the average rate down to 4.33% from 4.35% in the previous week.
The average rate from the top ten auto lenders for a 36 month car loan fell by just one basis point or 1/100 of a percent for the week. The average rate on a new car loan with a 36 month term ended the week at 4.18%.
For used car loans, the 60 month term used car loan rate from 4.78% to 4.76% from the previous week. The 48 month used car loan rate was down by equal amount, dropping to 4.68% from the prior week’s average rate of 4.70%. The short term 36 month used car loan rate came down to 4.54% from the previous week’s rate of 4.55%.
Car loan refinance rates were down for both of the loans terms surveyed by selectautorates.com, the 48 month term loan and the 36 month term loans. The rate for an auto loan refinance on a 48 month terms closed the week with an average rate of 4.63% while the auto refinance rate for a 36 month loan stood at 4.53%. Both rates were lower by two basis points for the week.
Selectautorates.com’s weekly national survey of large banks and auto lenders indicated that auto loan rates remained stuck in neutral again for the week ending February 12, 2010. Auto loan rates across all terms were mostly flat in this week’s rate survey of the nations top auto lenders.
In this week’s roundup of interest rates, the average rate on new car loan for a 60 month term stood at 4.57 percent at the close of the week. The rate on new car loans with a 48 month term had an interest rate of 4.45% at week’s end. In this low rate environment, the spread between the three year term loans and the 5 year term loans is quite narrow. The 36 month term car loan is at 4.30%, only 27 basis points or 27/100 of a percent below the 60 month term loan.
Used car loan rates held their ground this past week as well. The rate on a used car loan with a 60 month term is at 4.89 percent. The 48 month term used car loan is 4.81%. The short term, 36 month used car loan rate held at 4.67%.
Refinance rates for auto loans displayed limited movement along with the new and used car loan rates. The rate on a 48 month car loan refinance is 4.76 percent. The rate on a car loan refinance with a 36 month term is ten basis points lower at 4.66%.
To find the top ten best auto loan rates for both new and used car purchases or for a refinance of an existing auto loan, view the enclosed auto loan rate tables. The enclosed rate tables list the car loan lenders by loan type and term.
Auto loan rates remained unchanged for the week ending January 15, 2010. The average rate for all terms on both used and new car loans were unmoved from the first week in January based on our survey of the top banks and auto lenders.
Each week selectautorates.com surveys some of the nation’s largest banks and auto lenders to compile average rates for a variety of loan types and terms and the rates of the top ten auto finance lenders are then published in the enclosed tables.
Rates on new car loans didn’t budge by even one basis point or 1/100 of a percent for this week. The average rate for a 60 month new car loan stood at 6.10%. The average 48 month new auto loan rate is 6.01% and the average rate for the 36 month new car auto loan held at 5.82%.Â
Used auto loan rates remained stuck in neutral as well. For used auto loans, the used auto loan rate for a 60 month term remained at 6.44%, the 48 month used auto loan rate was 6.40% and the 36 month used car loan rate held at 6.26%.
Refinancing rates followed the other categories and stayed firm week over week. The 36 month refinance rate for the week is 5.94% while the 48 month term auto loan refinance rate is 6.06%.
Continued weakness in the economy is keeping pressure on lending rates. Banks remain more selective on loan approvals and thus are keeping rates low by producing fewer loans while their reserves and bank fund availability remain high. Low levels of economic activity, Federal Reserve continued stimulus and low inflation rates should keep most all bank loan rates low including car loan rates for sometime.
Search the tables enclosed to find updated auto rates for all of the top ten auto lenders for each category and each term. Listed with the financial institution is the term, the car loan APR, the name of the financial institution, web address and phone number.
Car loan rates held remarkably steady this week. After tumbling significantly during the prior week, auto loan rates remained steadfast for the week ending August 7, 2009.  New car loans with a five year term remained stable at 5.49%. Four year term car loans continued to be promoted with an average rate of 5.35%. In the short term maturity, three year term, the new car loan rate lingered at a low 5.15%.Â
Used car loan rates had fallen in the prior weeks along with new car loans and their rates remained stagnant for the week as well. The average rate for five year car loans for a used car held at 5.92%. The four year term used car loan rate was unaltered at 5.82%. The short term used car loan rate, the rate on a 36 month loan, was also unmoved at 5.64%.
Auto refinance rate continued this trend of stability. The 48 month auto refinance rate held at 5.63%. The refinance rate for a 36 month car loan was unresponsive to market movements as well, holding at 5.48%.
Bank funding rates, CD rates, savings rates and fed fund rates had been on a rather deep slide all year reducing the cost of funds for bank loans. Credit card rates have risen with the changing regulation recently passed by congress as well as because of continued deterioration in bank credit card portfolios. This leaves auto loans as an opportunity for banks to deploy their capital at lucrative rates without the elevated delinquency rates found in credit cards and other consumer loans such as second mortgages. Bank rates and CD rate information can be found at www.selectcdrates.com.
Car loan rates had been slow to the game in rate reductions but with a pick up lending activity due to the cash for clunkers deal, hopefully this segment of consumer lending will enjoy a rebirth. With the lack of activity in auto finance rates this week, new car loan rates as well as used auto loan rates are holding at their low point for year with increased demand. Green shoots have sprouted in banking and credit perhaps.
Car loan rates dropped modestly for the week ending July 31, 2009. The reduction in bank borrowing cost over the past few months has finally brought about a reduction to the current level of car loan rates. Bank borrowing costs have dropped measurably as seen with the reduction in fed funds rates, savings rates and CD rates. Bank car loan rates are now starting to move down along with the corresponding cost of bank funds.Â
All car loan rate terms, from 36 month term loans to 60 month term loans, displayed a reduction in interest rates for the week. New car loan rates, used car loan rates as well as auto refinance rates all exhibited a decrease in interest rates offered.Â
The average of the top ten car lenders for new car loans with a 36 month term average moved down to 5.15% for the week. The average for the 48 month term car loan pushed lower with an interest rate of 5.35%. The 60 month term car loan rate now averages 5.49% to close the week.Â
The average of the top car lenders for a used car loan with a 36 month term averaged 5.64%. The average for a used car loan with a 48 month term dropped down to 5.82%. The 60 month term used car loan fell to 5.92% to end the week.
For car loan refinances the loan rates were lower as well with the 36 month auto loan refinance rate falling to 5.48% and the average for the 48 month term refinance car loan rate ending the week at 5.63%.
Auto loan rates should continue to hold these lower rates since the cost of funds to engage in auto finance is not expected to rise in the coming quarter. In addition, while consumer loan delinquencies have risen substantially during the current recession, auto loan delinquencies have not kept the same worried pace.Â
Car loan delinquencies have certainly risen but to the magnitude seen in credit cards and home mortgages. Banks had increased consumer loan interest rates in 2008 while tightening up on lending standards in order to insure that their auto finance operations remain profitable. This has helped to restrict any significant increases in loan delinquencies and allowed the banks to now offer lower car loan rates without measurable loan losses.
The bleak economic data produced during the week was the foundation for enough movement in the bond market to affect mortgage rates and bank rates but car loan rates held stubbornly steady. This week bond rates dropped noticeably as did the rates paid on bank certificates of deposits and savings rates. Unfortunately, that activity had little impact on car loan rates.Â
Auto loan rates were little changed for the week ending July 10, 2009. Long term auto rates for new cars rose modestly while the shorter term auto loan rates remained constant. Used car loan rates displayed a similar pattern. Long term used car loan rates rose modestly while the shorter term rates were mostly unchanged.
The average of the top ten car loan rates with a 60 month term moved up by one basis point or 1/100 of a percent to end the week at 5.74%. The average for the 48 month term car loan rate was up by one basis point as well, closing out the week with an interest rate of 5.63%. 36 month car loan rates remained stationary ending the week at 5.49%.Â
In the used car loan rate category, the 60 month term used car loan rate increased by two basis points to 6.14% for the week. The 48 month used car loan rate was unchanged at 5.84%. The short term, 36 month term used car loan rate moved in the opposite direction and fell one basis point to end at 5.73%.Â
With car loan volume off significantly this year, the big lenders are busy working mortgage origination’s and dedicating limited resources to auto financing. Fortunately for the big banks, the cost of funds for lending is dropping the year and with almost no comparable reductions in car loan rates, the big boys should enjoying a large spread on car loan interest margins. Auto loan rates should move lower in this environment but with the loan losses the large lenders are experiencing in credit cards and mortgages, the odds of seeing any banking generosity in 2009 with lower car loan rates appears remote.
Understanding how the automobile finance process works should be the first step for anyone thinking about buying a new or used car or truck. In order to make a well informed car purchase it is essential that a prospective buyer learn about the car models, options, prices, and ratings. But far too many people go to the dealership equipped with that knowledge and remain ill informed about the car financing and car loan options. Grasping the ins and outs of vehicle financing will give an individual the knowledge to ensure that the purchasing decision does not negatively impact an individual’s budget, credit and financial goals.
Key items to consider before choosing a vehicle to buy should include:
How much can you afford for the car purchase. Understandably, the first task is to evaluate your financial situation and determine how much you can afford to pay for a new car. This requires evaluating your own budget and the costs of the car that match your needs. Car costs should not only factor in the purchase price and the car loan payment but the costs of insurance, gas as well as maintenance costs. Â
Become familiar with what car financing and car loan options are available to you. This requires comparing car loan rates, annual percentage rates and financing terms from more than one source such as banks, finance companies, and credit unions. The initial car loan rate you are offered may be negotiable and may be changed based on different factors.
While investigating the car loan options it is helpful to become knowledgeable about what factors affects the car loan rate and finance charge. Banks and car loan companies use a number of factors to settle on the auto loan rate that they offer. The most important component is the car loan applicants credit history and credit score. Other factors that may also affect the financing decision and the car loan rate include: the applicant’s income, the total purchase price of the car, the amount of the down payment, the term of the car loan and the availability of manufacturer incentives.Â
Be aware of the cost of optional products such as extended service contracts, credit insurance and physical car options. If you don’t want the extra products, look at a different vehicle and don’t sign for the options you don’t need or want. Read the contract carefully before you sign it and ask questions about anything you don’t understand before committing to a contract.
Understand the overall car cost including the purchase price, monthly car loan payment and total costs over the life of the loan. Review the car loan APR and any manufacturer rebates given or available. Know how much the down payment affected the cost whether it is cash or trade in value. Be sure to review the whole car purchase package that is offered, and not just the monthly car payment.
The auto loan and car finance industry is very competitive, use the resources available and the different lenders in the car loan market for your advantage by comparing the loan terms, annual percentage rates and other important financing factors and not just which car to choose.
Remember that once you have completed the purchase and executed the car loan contract that the lender or bank that provided that loan to purchase the car holds a lien on the car’s title until you have paid the loan off in full. Be sure to make your car loan payments on time. Late or missed car loan payments will result in potentially, costly late payment fees and may negatively impact your credit report which will have an effect on your ability to get credit in the future.