Auto loan rates for May 2, 2013

Claes Bell
May 2, 2013

Interest Rate Roundup

Auto loan rate graph
Auto loan rate graph

Find the best auto rates in your area.

Auto Loans

  • 4.11% (60-month, new car)
  • 4.69% (36-month, used car)

Auto loan rates were mostly flat this week in Bankrate's national survey.

The average rates for 60-month and 48-month new-car loans fell 1 basis point to 4.11 percent and 4.03 percent, respectively. A basis point is one-hundredth of 1 percentage point.

Rates on used-car loans also were unchanged, with the average rate on a 36-month used-car loan staying planted at 4.69 percent.

Volvo is testing a new flywheel system that may soon help drivers substantially improve their fuel economy, according to a report in USA Today. The system, which uses a carbon fiber flywheel spinning at up to 60,000 rpm to capture energy during braking that is released to aid acceleration, could improve a vehicle's gas mileage by 25 percent.

See all auto loan rates content

Next
Next



More From Bankrate.com