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.
Tags: auto loan rates, auto loans, best auto loan rates, car loan rates, car loan refinance, new car loans, used car loan
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