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Loan rates remain low for new vehicles

GasBuddy Blog -- If you're looking to buy a car soon, you may have a good reason to do it: loan rates continue to hover near lows for new vehicle purchases, according to Bank Rate.

If you're trying to resist buying, you may be finding it hard. Many major manufacturers aired ads during the Super Bowl, and many banks continue to offer attractive loan options for 48 and 60-month loans.

Credit unions have been seen offering some of the most attractive loan rates compared to big banks, with some offering incentives like gift cards or other gifts for signing or transferring a loan. In fact, according to NCUA.gov, credit unions often have better loan rates. In June, 2012, for example, the average 48 month new car loan at a credit union was 3...

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Submitted Feb 07, 2013 By: PD

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moose21040 Rookie Author Baltimore Posts:81 Points:112,455 Joined:Jan 2011	Message Posted: Feb 18, 2013 2:10:04 PM Ignore moose21040 Report Abuse That's nice to know. But no thank you
musicreporter All-Star Author San Antonio Posts:620 Points:131,315 Joined:Dec 2012	Message Posted: Feb 12, 2013 1:26:24 PM Ignore musicreporter Report Abuse tough
USMCturtlehead Champion Author Lexington Posts:1,963 Points:100,775 Joined:Feb 2013	Message Posted: Feb 12, 2013 12:55:59 PM Ignore USMCturtlehead Report Abuse Loan rates may be low but cost savings are better if you can afford to pay cash.
honda0105 Champion Author Tallahassee Posts:18,590 Points:1,606,595 Joined:Nov 2008	Message Posted: Feb 10, 2013 8:01:58 AM Ignore honda0105 Report Abuse no plans to buy a new vehicle any time soon
moose21040 Rookie Author Baltimore Posts:81 Points:112,455 Joined:Jan 2011	Message Posted: Feb 10, 2013 4:20:51 AM Ignore moose21040 Report Abuse NO new car for me
LuckyLou1 Veteran Author Colorado Posts:400 Points:177,420 Joined:Oct 2012	Message Posted: Feb 9, 2013 5:45:45 PM Ignore LuckyLou1 Report Abuse Don't want any new debt unlike the Federal government
minookaband Rookie Author Illinois Posts:94 Points:18,170 Joined:Dec 2012	Message Posted: Feb 9, 2013 2:02:40 PM Ignore minookaband Report Abuse I have not bought a new vehicle in 9 yrs and do not plan on purchasing anytime soon.
csblesson Champion Author Texas Posts:1,801 Points:350,200 Joined:May 2012	Message Posted: Feb 8, 2013 9:51:46 PM Ignore csblesson Report Abuse They want us buy vehicles every year?
Ken2OD Champion Author Grand Rapids Posts:9,057 Points:1,969,015 Joined:Dec 2005	Message Posted: Feb 8, 2013 6:26:13 PM Ignore Ken2OD Report Abuse I have always bought pre-owned cars. I either paid cash or borrowed from the Credit Union. I bought my first car (a '49 Olds Torpedo-back) for $50 in 1958 or 1959. I drove it for 3 years and traded it in for $80 on a '56 Ford Fairlane. Now that I am getting closer to 80 years old, I might just buy a new car. But, I'll still go through the credit union.
goldrose1 Champion Author Cleveland Posts:10,926 Points:1,922,555 Joined:Feb 2005	Message Posted: Feb 8, 2013 4:50:32 PM Ignore goldrose1 Report Abuse more
LongPlay Champion Author Albuquerque Posts:4,233 Points:1,236,600 Joined:May 2008	Message Posted: Feb 8, 2013 4:19:00 PM Ignore LongPlay Report Abuse No cars on my list. I usually only buy cars when cars have over 100000 miles and my 10 yr old car is still well below that!
Cheepo Champion Author Tampa Posts:9,884 Points:3,127,030 Joined:Apr 2003	Message Posted: Feb 8, 2013 3:54:51 PM Ignore Cheepo Report Abuse No new car for me!!!!!!
cricket48750 All-Star Author Michigan Posts:787 Points:410,555 Joined:May 2011	Message Posted: Feb 8, 2013 3:27:15 PM Ignore cricket48750 Report Abuse Who can afford a new car?
DrCashFlow Champion Author Massachusetts Posts:7,059 Points:1,624,400 Joined:Jun 2008	Message Posted: Feb 8, 2013 2:47:56 PM Ignore DrCashFlow Report Abuse Next bubble coming up
snappytom2 Champion Author Corpus Christi Posts:3,535 Points:274,075 Joined:Jul 2008	Message Posted: Feb 8, 2013 12:52:05 PM Ignore snappytom2 Report Abuse Don't go into the water. The loan sharks are circling.
drillintheUSA All-Star Author Rochester Posts:864 Points:179,960 Joined:Apr 2008	Message Posted: Feb 8, 2013 12:44:15 PM Ignore drillintheUSA Report Abuse Luv2ride33: +1
dacofa Champion Author Nevada Posts:5,371 Points:1,147,030 Joined:Jan 2010	Message Posted: Feb 8, 2013 12:28:09 PM Ignore dacofa Report Abuse Shows how many years they ripped us off.
BigKart All-Star Author Indianapolis Posts:753 Points:222,345 Joined:Apr 2011	Message Posted: Feb 8, 2013 12:25:08 PM Ignore BigKart Report Abuse During a recent purchase, 1.74% was available for up to 75 months... not that anyone would want to pay for a car for 75 months!
CptnCanada Champion Author Saskatoon Posts:7,007 Points:914,975 Joined:Jun 2008	Message Posted: Feb 8, 2013 12:13:34 PM Ignore CptnCanada Report Abuse If you are buying a new car just to save at the pump it is false economy. The interest the bank charges will be more per month than you could ever save at the pumps.
Harry813 Champion Author Iowa Posts:2,990 Points:658,940 Joined:Jul 2011	Message Posted: Feb 8, 2013 12:05:18 PM Ignore Harry813 Report Abuse No plans for a new one....
crashintuc34 Champion Author Tucson Posts:4,037 Points:808,965 Joined:May 2010	Message Posted: Feb 8, 2013 12:04:28 PM Ignore crashintuc34 Report Abuse Need to buy one soon.
radiorumor Champion Author Texas Posts:2,792 Points:749,860 Joined:Feb 2011	Message Posted: Feb 8, 2013 12:04:02 PM Ignore radiorumor Report Abuse The last three I've paid cash
Bud122CA Champion Author California Posts:7,456 Points:1,603,150 Joined:Jul 2008	Message Posted: Feb 8, 2013 12:03:34 PM Ignore Bud122CA Report Abuse Who can afford new cars when we can't buy medicine and make house payments?
Luv2ride33 Sophomore Author Tennessee Posts:149 Points:142,885 Joined:Jul 2012	Message Posted: Feb 8, 2013 12:01:53 PM Ignore Luv2ride33 Report Abuse I would rather pay cash and avoid finance charges.
FlyNFool Champion Author South Carolina Posts:8,224 Points:1,681,950 Joined:Aug 2008	Message Posted: Feb 8, 2013 12:00:58 PM Ignore FlyNFool Report Abuse old news
jpj23 Champion Author Los Angeles Posts:5,695 Points:1,096,675 Joined:Jul 2008	Message Posted: Feb 8, 2013 12:00:08 PM Ignore jpj23 Report Abuse Old news story. How about some news that new?
RochBear Champion Author Minnesota Posts:10,449 Points:1,738,915 Joined:May 2006	Message Posted: Feb 8, 2013 11:59:04 AM Ignore RochBear Report Abuse I'd still rather pay cash. Interest rates are low, but why pay interest?
geoutpb Champion Author Midland Odessa Posts:4,608 Points:1,063,285 Joined:Dec 2006	Message Posted: Feb 8, 2013 11:58:58 AM Ignore geoutpb Report Abuse Use other peoples money.
smgrb2012 Sophomore Author Illinois Posts:128 Points:110,410 Joined:Mar 2012	Message Posted: Feb 8, 2013 11:57:05 AM Ignore smgrb2012 Report Abuse Good news
Sam195 Champion Author San Bernardino Posts:8,075 Points:1,572,150 Joined:Oct 2008	Message Posted: Feb 8, 2013 11:56:14 AM Ignore Sam195 Report Abuse Rates are low but the prices are crazy high because of all the electronic junk on the new vehicles.
sciotosix Champion Author Dayton Posts:2,734 Points:663,200 Joined:Apr 2011	Message Posted: Feb 8, 2013 11:55:43 AM Ignore sciotosix Report Abuse I took advantage when they offered 0% rate....can't get any lower than that.
DimitrisIL Champion Author Chicago Posts:1,496 Points:520,725 Joined:Feb 2011	Message Posted: Feb 8, 2013 11:55:11 AM Ignore DimitrisIL Report Abuse Good incentives. They make financing easy when they need to sell cars.
donny47 Champion Author New Hampshire Posts:2,651 Points:984,465 Joined:Feb 2009	Message Posted: Feb 8, 2013 11:54:36 AM Ignore donny47 Report Abuse thats why interest rates on savings and other investments are so low.socialism!!!!!!!!!!!!!!!!!!!!!!!!!or communism!!!!!!!!!!!!!!!
Holly123 Champion Author Charlotte Posts:3,182 Points:786,960 Joined:Dec 2010	Message Posted: Feb 8, 2013 11:54:12 AM Ignore Holly123 Report Abuse Yesterday's news
gumbyrex Champion Author Fresno Posts:3,281 Points:755,290 Joined:Mar 2011	Message Posted: Feb 8, 2013 11:51:35 AM Ignore gumbyrex Report Abuse Loan rates on cars and houses are low, but you still need the cash to make the payments. With living expenses increasing, unemployment and underemployment still a problem, finding additional funds is tough for some consumers no matter how low the interest rate.
Discovery02 Champion Author Colorado Springs Posts:2,520 Points:306,665 Joined:May 2012	Message Posted: Feb 8, 2013 11:50:22 AM Ignore Discovery02 Report Abuse When you do have money, rates are high. When you don't have money, rates are low. Go figure.
dollarwatcher Champion Author Wisconsin Posts:7,930 Points:1,532,295 Joined:Mar 2007	Message Posted: Feb 8, 2013 11:50:17 AM Ignore dollarwatcher Report Abuse I have one payment left on my used 04 Blazer and then I'll invest in beer.
kuma2000 Champion Author Honolulu Posts:3,208 Points:671,225 Joined:Jun 2011	Message Posted: Feb 8, 2013 11:48:36 AM Ignore kuma2000 Report Abuse I'm shopping for a new vehicle - better check with my credit union.
NanookAK Champion Author Anchorage Posts:7,235 Points:1,438,090 Joined:Nov 2007	Message Posted: Feb 8, 2013 11:48:16 AM Ignore NanookAK Report Abuse Soon, we will have to take out loans to buy gas.
forderjunk Champion Author Maine Posts:10,643 Points:2,172,960 Joined:Sep 2005	Message Posted: Feb 8, 2013 11:47:42 AM Ignore forderjunk Report Abuse still too expensive
iFueler Champion Author Durham Posts:64,308 Points:175,500 Joined:Nov 2012	Message Posted: Feb 8, 2013 11:44:13 AM Ignore iFueler Report Abuse good for some folk
drillintheUSA All-Star Author Rochester Posts:864 Points:179,960 Joined:Apr 2008	Message Posted: Feb 8, 2013 11:42:28 AM Ignore drillintheUSA Report Abuse as they should be! The Banksters are paying us NOTHING for real deposits nowadays. "The most powerful force in the Universe is Compound Interest" - Albert Einstein What happened to it??
TTM77 Champion Author Maryland Posts:2,132 Points:1,211,365 Joined:Apr 2005	Message Posted: Feb 8, 2013 11:42:23 AM Ignore TTM77 Report Abuse low all they want, I have no money.
Rhino8of8 Champion Author Wisconsin Posts:1,240 Points:371,915 Joined:Jan 2012	Message Posted: Feb 8, 2013 11:39:55 AM Ignore Rhino8of8 Report Abuse Rather just keep my "paid off" vehicle.
tpguess Champion Author San Diego Posts:1,586 Points:368,910 Joined:Jan 2012	Message Posted: Feb 8, 2013 11:38:53 AM Ignore tpguess Report Abuse Get rid of Obama... and get people back to work... that will sell cars
RitaVespa Champion Author Oregon Posts:2,961 Points:788,360 Joined:Jan 2011	Message Posted: Feb 8, 2013 11:38:51 AM Ignore RitaVespa Report Abuse Nope. Too expensive
traumer Champion Author Twin Cities Posts:5,359 Points:1,335,525 Joined:Aug 2006	Message Posted: Feb 8, 2013 11:35:23 AM Ignore traumer Report Abuse I still won't buy a different car until mine dies and then it will be a 4 year old used car.
KillChain Champion Author Albuquerque Posts:5,605 Points:1,528,535 Joined:Jun 2006	Message Posted: Feb 8, 2013 11:34:55 AM Ignore KillChain Report Abuse GB Blog,thanks for the post.
Digger52 Champion Author Chicago Posts:2,387 Points:845,685 Joined:Aug 2008	Message Posted: Feb 8, 2013 11:34:47 AM Ignore Digger52 Report Abuse All loan rates are low. . . .don't see car prices coming down, tho
HideMKE Veteran Author Milwaukee Posts:359 Points:86,890 Joined:Mar 2012	Message Posted: Feb 8, 2013 11:34:29 AM Ignore HideMKE Report Abuse good