Weekly Car Loan Interest Rates 12-30-2011

Written by Brady    Friday, 30 December 2011 16:59

With the last update of the year we see that Car Loan interest rates finished the year very low. New car loans finished 2011 with an average rate below 4.0%. Used car loans are not far off with rates in the lower half of the 4's. 2011 was a great year for interest rates as they went low and stayed low to finish the year. Record lows were seen for car loans and home loans.

Car Loan Type Today's Rate Last Week's Rate Change
36 Month New Car Loan 3.75% 3.75% -
48 Month New Car Loan 3.86% 3.87% -.01%
60 Month New Car Loan 4.04% 4.08% -.04%
72 Month New Car Loan 3.20% 3.20% -
36 Month Used Car Loan 4.47% 4.47% -
48 Month Used Car Loan 4.30% 4.30% -
Source: bankrate.com


Here is a look at the average local rates for random cities using the most common car loan rate lengths. Rates typically vary based on region. Interest rates are based on available local offers.

City 60 Month New Car Loan 48 Month Used Car Loan
Winston Salem, NC 4.89% 3.19%
Reno, NV 8.15% 3.19%
Johnstown, PA 4.3% 4.09%
Source: bankrate.com - based on available local offers


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