GOBankingRates Reports: 4 Best Auto Loan Rates in St. Louis

As new car prices rise and auto loan rates remain low, personal finance site GOBankingRates identifies the St. Louis banks and credit unions with the lowest auto loan rates today

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GOBankingRates

Mar 17, 2014, 09:15 ET

ST. LOUIS, March 17, 2014 /PRNewswire/ -- Car prices are rising, yet auto loan rates remain low, at least for the moment; in order to get behind the wheel, American borrowers are taking out larger loans today than ever before.

To help car buyers take advantage of the lowest auto loan rates today from local banks and credit unions, GOBankingRates released a list of the best rates in St. Louis.

"Although rates on some loans, like mortgages, are increasing, auto loan rates are still relatively low and affordable," said Amanda Garcia, reporter for GOBankingRates. "GOBankingRates consistently finds auto loan rates below 3% at many community banks and credit unions."

To provide borrowers benchmarks for comparison shopping, GOBankingRates also surveyed the average auto loan rates on the city, state and national levels.

Average New Auto Loan Rates:

	St. Louis	Missouri	National
3-Year Auto Loan	2.82% APR	3.40% APR	3.26% APR
4-Year Auto Loan	3.24% APR	3.34% APR	4.01% APR
5-Year Auto Loan	2.81% APR	3.03% APR	3.58% APR

4 Lowest Auto Loan Rates in St. Louis

Arsenal Credit Union is notable for offering borrowers the lowest auto loan rate in St. Louis, with up to 125% financing on new cars.

No. 1- Arsenal Credit Union's 3- through 5-Year Auto Loans: 2.25% APR*
No. 2- Bank of America's 5-Year and PNC Bank's 3-Year Auto Loans: 2.34% APR
No. 3- Regions Bank's 3- through 5-Year Auto Loans: 3.24% APR
No. 4- First Bank's 5-Year Auto Loan: 3.50% APR

*Offer extends to loans up to 72 months.

About This Study

GOBankingRates surveyed base rates for three-, four- and five-year auto loans from banks and credit unions in St. Louis as of March 3, 2014. Data is from the GOBankingRates interest rate database, which partners with Informa Research Services Inc. to aggregate interest rates from more than 6,000 U.S. financial institutions.

Interest rates could change. Accuracy cannot be guaranteed. Other terms and conditions could apply. All rates are shown in APR.

About GOBankingRates

GOBankingRates.com is a personal finance website that connects consumers with the best interest rates nationwide. Its editors are regularly featured on U.S. News, Forbes, MSN Money, Huffington Post and more.

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Connie Lundegard
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SOURCE GOBankingRates