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GasBuddy News Article

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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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REPLIES (newest first) Post a Reply
moose21040
Veteran Author Baltimore

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Message Posted: Feb 18, 2013 2:10:04 PM

That's nice to know. But no thank you
musicreporter
All-Star Author San Antonio

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Message Posted: Feb 12, 2013 1:26:24 PM

tough
USMCturtlehead
Champion Author Lexington

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Message Posted: Feb 12, 2013 12:55:59 PM

Loan rates may be low but cost savings are better if you can afford to pay cash.
honda0105
Champion Author Tallahassee

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Message Posted: Feb 10, 2013 8:01:58 AM

no plans to buy a new vehicle any time soon
moose21040
Veteran Author Baltimore

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Message Posted: Feb 10, 2013 4:20:51 AM

NO new car for me
LuckyLou1
Champion Author Colorado

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Message Posted: Feb 9, 2013 5:45:45 PM

Don't want any new debt unlike the Federal government
minookaband
Champion Author Illinois

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Message Posted: Feb 9, 2013 2:02:40 PM

I have not bought a new vehicle in 9 yrs and do not plan on purchasing anytime soon.
csblesson
Champion Author Texas

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Message Posted: Feb 8, 2013 9:51:46 PM

They want us buy vehicles every year?
Ken2OD
Champion Author Grand Rapids

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Message Posted: Feb 8, 2013 6:26:13 PM

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

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Message Posted: Feb 8, 2013 4:50:32 PM

more
LongPlay
Champion Author Albuquerque

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Message Posted: Feb 8, 2013 4:19:00 PM

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

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Message Posted: Feb 8, 2013 3:54:51 PM

No new car for me!!!!!!
cricket48750
Champion Author Michigan

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Message Posted: Feb 8, 2013 3:27:15 PM

Who can afford a new car?
DrCashFlow
Champion Author Massachusetts

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Message Posted: Feb 8, 2013 2:47:56 PM

Next bubble coming up
snappytom2
Champion Author Corpus Christi

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Message Posted: Feb 8, 2013 12:52:05 PM

Don't go into the water. The loan sharks are circling.
drillintheUSA
Champion Author Rochester

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Message Posted: Feb 8, 2013 12:44:15 PM



Luv2ride33: +1
dacofa
Champion Author Nevada

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Message Posted: Feb 8, 2013 12:28:09 PM

Shows how many years they ripped us off.
BigKart
Champion Author Indianapolis

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Message Posted: Feb 8, 2013 12:25:08 PM

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

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Message Posted: Feb 8, 2013 12:13:34 PM

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

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Message Posted: Feb 8, 2013 12:05:18 PM

No plans for a new one....
crashintuc34
Champion Author Tucson

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Message Posted: Feb 8, 2013 12:04:28 PM

Need to buy one soon.
radiorumor
Champion Author Texas

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Message Posted: Feb 8, 2013 12:04:02 PM

The last three I've paid cash
Bud122CA
Champion Author California

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Message Posted: Feb 8, 2013 12:03:34 PM

Who can afford new cars when we can't buy medicine and make house payments?
Luv2ride33
Sophomore Author Tennessee

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Message Posted: Feb 8, 2013 12:01:53 PM

I would rather pay cash and avoid finance charges.
FlyNFool
Champion Author South Carolina

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Message Posted: Feb 8, 2013 12:00:58 PM

old news
jpj23
Champion Author Los Angeles

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Message Posted: Feb 8, 2013 12:00:08 PM

Old news story. How about some news that new?
RochBear
Champion Author Minnesota

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Message Posted: Feb 8, 2013 11:59:04 AM

I'd still rather pay cash. Interest rates are low, but why pay interest?
geoutpb
Champion Author Midland Odessa

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Message Posted: Feb 8, 2013 11:58:58 AM

Use other peoples money.
smgrb2012
Sophomore Author Illinois

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Message Posted: Feb 8, 2013 11:57:05 AM

Good news
Sam195
Champion Author San Bernardino

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Message Posted: Feb 8, 2013 11:56:14 AM

Rates are low but the prices are crazy high because of all the electronic junk on the new vehicles.
sciotosix
Champion Author Dayton

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Message Posted: Feb 8, 2013 11:55:43 AM

I took advantage when they offered 0% rate....can't get any lower than that.
DimitrisIL
Champion Author Chicago

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Message Posted: Feb 8, 2013 11:55:11 AM

Good incentives. They make financing easy when they need to sell cars.
donny47
Champion Author New Hampshire

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Message Posted: Feb 8, 2013 11:54:36 AM

thats why interest rates on savings and other investments are so low.socialism!!!!!!!!!!!!!!!!!!!!!!!!!or communism!!!!!!!!!!!!!!!
Holly123
Champion Author Charlotte

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Message Posted: Feb 8, 2013 11:54:12 AM

Yesterday's news
gumbyrex
Champion Author Fresno

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Message Posted: Feb 8, 2013 11:51:35 AM

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

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Message Posted: Feb 8, 2013 11:50:22 AM

When you do have money, rates are high. When you don't have money, rates are low. Go figure.
dollarwatcher
Champion Author Wisconsin

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Message Posted: Feb 8, 2013 11:50:17 AM

I have one payment left on my used 04 Blazer and then I'll invest in beer.
kuma2000
Champion Author Honolulu

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Message Posted: Feb 8, 2013 11:48:36 AM

I'm shopping for a new vehicle - better check with my credit union.
NanookAK
Champion Author Anchorage

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Message Posted: Feb 8, 2013 11:48:16 AM

Soon, we will have to take out loans to buy gas.
forderjunk
Champion Author Maine

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Message Posted: Feb 8, 2013 11:47:42 AM

still too expensive
iFueler
Champion Author Durham

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Message Posted: Feb 8, 2013 11:44:13 AM


        good for some folk
drillintheUSA
Champion Author Rochester

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Message Posted: Feb 8, 2013 11:42:28 AM

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

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Message Posted: Feb 8, 2013 11:42:23 AM

low all they want, I have no money.
Rhino8of8
Champion Author Wisconsin

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Message Posted: Feb 8, 2013 11:39:55 AM

Rather just keep my "paid off" vehicle.
tpguess
Champion Author San Diego

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Message Posted: Feb 8, 2013 11:38:53 AM

Get rid of Obama... and get people back to work... that will sell cars
RitaVespa
Champion Author Oregon

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Message Posted: Feb 8, 2013 11:38:51 AM

Nope. Too expensive
traumer
Champion Author Twin Cities

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Message Posted: Feb 8, 2013 11:35:23 AM

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

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Message Posted: Feb 8, 2013 11:34:55 AM

GB Blog,thanks for the post.
Digger52
Champion Author Chicago

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Message Posted: Feb 8, 2013 11:34:47 AM

All loan rates are low. . . .don't see car prices coming down, tho
HideMKE
Champion Author Milwaukee

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Message Posted: Feb 8, 2013 11:34:29 AM

good
gobux10
Champion Author Ohio

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Message Posted: Feb 8, 2013 11:32:46 AM

So does that mean everybody's going to run out and buy a new car. Don't think so
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