2 Comments

1. iveaquestion says:
   March 13, 2010 at 2:13 pm

   It is basically the demand cycle in your economy of automobiles. If people are buying a lot of cars , you can tend to see a high in future interest rates n vice versa. Apart from that , a major factor is the federal reserve and their policies as they control the interest rates.
2. asdf` d says:
   March 13, 2010 at 2:36 pm

   The federal government sets the prime interest rate. If they raise it, the auto loan is likely to go up and vice versa. If you have outstanding credit, you may be able to qualify for a zero percent loan through the Auto maker or a lower rate than a bank would charge. They are currently offering bank financing at around 6.5% on average for new cars. Used cars generally carry a higher interest rate. happy shopping