The silver lining to the current economic times seems to be the incredible opportunities available for those that are in the market for a vehicle. Especially here in California a car is not merely a nicety, its a requirement and now is the time to take advantage of the market!
WASHINGTON, D.C. 4-09-2009— The average interest rate on new-vehicle loans at auto finance companies hit an all-time low of 3.17 percent, according to the Federal Reserve this week.
As a comparison, unless the latest preliminary statistic is a Federal Reserve typo, the closest this figure has ever come to being this low was in the first quarter of 2008 at 4.85 percent, based on available records.
In January, the statistic stood at 8.23 percent, and in December it was 8.42 percent.
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