It's a Great Time to Buy a New Car
By: Newsroom Solutions
Updated: January 25, 2011
It's a great time for buying a new car, with interest rates on auto loans at the lowest level in over 20 years.
A survey of major banks and thrifts by Bankrate.com shows the interest rate on a four-year loan for a new car averaged six-point-21 percent.
Some lenders have dropped rates as low as two-point-99 percent.
A senior financial analyst for Bankrate.com says large national or regional banks have some of the lowest rates.
He calls that unusual and says now that the banking crisis is softening, there's a market-share grab occurring.
A survey of major banks and thrifts by Bankrate.com shows the interest rate on a four-year loan for a new car averaged six-point-21 percent.
Some lenders have dropped rates as low as two-point-99 percent.
A senior financial analyst for Bankrate.com says large national or regional banks have some of the lowest rates.
He calls that unusual and says now that the banking crisis is softening, there's a market-share grab occurring.
