Auto loan rates dropped across the board in this week’s interest rate survey of the top auto lenders across the country. Rates were lower between 10 to 25 basis points on the various car loans surveyed for both new and used car loan as well as car loan refinance rates.
Auto loan rates fell for all terms on new car loans this week. The average rate for 60 month auto loans from the top ten best auto lenders was down rather significantly, according to the weekly auto loan rate survey performed by selectautorates.com, was down to 4.47%. The 48 month term auto loans for new car purchases dipped down to an average rate of 4.35%. The short term, 36 month auto loan rate, was down more modestly with an average rate of 4.19%.
Rates for used car loans were down for the week across all terms as well. The 60 month used car auto loan rate ended the week with an average rate of 4.78%. The 48 month used car loan rate was at 4.70% while the 36 month term used car loan rate averaged 4.55%.
The average rate for auto loan refinancing followed new and used loan rates and moved lower as well. The average rate on a 48 month car loan refinance stood at 4.65%. The average rate on the shorter, 36 month car loan refinance was ten basis points lower at 4.55%.
The selectautorates.com weekly auto loan rate survey reviews the rates of the largest auto lenders to compile the average rates as well as a list of the top ten rates per term and loan type in the accompanying rate tables. Auto loan rates surveyed are based on the rats offered for the most credit worthy borrowers. To find updated auto rates for all loan terms, review the enclosed auto rate tables.
Tags: 60 month auto loans, auto lenders, auto loan rates, auto loans, car loan rate, car loan refinance, used car auto loan rate, used car loans
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