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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:84 Points:114,890 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:626 Points:134,740 Joined:Dec 2012	Message Posted: Feb 12, 2013 1:26:24 PM Ignore musicreporter Report Abuse tough
USMCturtlehead Champion Author Lexington Posts:2,017 Points:103,925 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:18,624 Points:1,609,520 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:84 Points:114,890 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:415 Points:180,345 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:19,070 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:1,816 Points:353,125 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:9,072 Points:1,971,940 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:10,941 Points:1,925,580 Joined:Feb 2005	Message Posted: Feb 8, 2013 4:50:32 PM Ignore goldrose1 Report Abuse more
LongPlay Champion Author Albuquerque Posts:4,243 Points:1,240,175 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:9,889 Points:3,128,005 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:802 Points:413,580 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:7,064 Points:1,627,125 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:3,551 Points:274,770 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:883 Points:182,885 Joined:Apr 2008	Message Posted: Feb 8, 2013 12:44:15 PM Ignore drillintheUSA Report Abuse Luv2ride33: +1
dacofa Champion Author Nevada Posts:5,374 Points:1,149,715 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:771 Points:225,350 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:7,012 Points:915,300 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:3,005 Points:661,865 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:4,052 Points:811,890 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:2,817 Points:754,835 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:7,471 Points:1,606,075 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:8,244 Points:1,685,200 Joined:Aug 2008	Message Posted: Feb 8, 2013 12:00:58 PM Ignore FlyNFool Report Abuse old news
jpj23 Champion Author Los Angeles Posts:5,710 Points:1,099,700 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:10,467 Points:1,741,940 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:4,628 Points:1,067,285 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:132 Points:112,190 Joined:Mar 2012	Message Posted: Feb 8, 2013 11:57:05 AM Ignore smgrb2012 Report Abuse Good news
Sam195 Champion Author San Bernardino Posts:8,090 Points:1,575,075 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:2,749 Points:666,125 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:1,503 Points:523,740 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:2,661 Points:986,415 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:3,202 Points:790,210 Joined:Dec 2010	Message Posted: Feb 8, 2013 11:54:12 AM Ignore Holly123 Report Abuse Yesterday's news
gumbyrex Champion Author Fresno Posts:3,301 Points:759,290 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:2,560 Points:310,665 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:7,945 Points:1,535,220 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:3,223 Points:674,150 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:7,253 Points:1,441,015 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:2,173,710 Joined:Sep 2005	Message Posted: Feb 8, 2013 11:47:42 AM Ignore forderjunk Report Abuse still too expensive
iFueler Champion Author Durham Posts:64,423 Points:179,500 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:883 Points:182,885 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:2,135 Points:1,211,925 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:1,245 Points:374,390 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:1,596 Points:371,610 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:2,981 Points:792,260 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:5,374 Points:1,338,450 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:5,610 Points:1,531,260 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:2,407 Points:848,935 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:370 Points:89,835 Joined:Mar 2012	Message Posted: Feb 8, 2013 11:34:29 AM Ignore HideMKE Report Abuse good