GOBankingRates Reports: 9 Best Auto Loan Rates Available in Austin

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

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GOBankingRates

Mar 17, 2014, 09:30 ET

AUSTIN, Texas, March 18, 2014 /PRNewswire/ -- Car prices are rising, yet auto loan rates remain low, at least for the moment; to get behind the wheel, American borrowers are taking out larger loans 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 Austin.

"Although mortgage rates are increasing, auto loan rates are still relatively low," said Amanda Garcia, of 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:

	Austin	Texas	National
3-Year	3.55%	3.54%	3.26%
4-Year	4.30%	4.49%	4.01%
5-Year	2.54%	2.82%	3.58%

9 Lowest Auto Loan Rates in Austin

Auto loans from RBFCU are notable for offering borrowers the lowest rates in Travis County, along with flexible repayment terms.

No. 1- RBFCU (3- through 5-Year*): 1.65%
No. 2- United Heritage Credit Union (5-Year): 1.79%
No. 3- Austin Telco Federal Credit Union (5-Year): 1.99%
No. 4- Amplify Credit Union (3-Year): 2.14%
No. 5- Bank of America (5-Year): 2.34%
No. 6- BB&T (3-Year): 2.84%
No. 7- Chase Bank (4-Year): 2.88%
No. 8- BBVA Compass Bank (5-Year) and Woodforest National Bank (3-Year): 2.99%
No. 9- University Federal Credit Union (3-Year): 3.15%

*Although this study looked at 3-, 4- and 5-year loans, RBFCU's 1.65% rate extends to additional term lengths.

About This Study

This study surveyed base rates for three-, four- and five-year auto loans from banks and credit unions in Travis County 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 and 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 have been featured on U.S. News, Yahoo! Finance, Forbes, The Street, Huffington Post and more.

Contact:
Jaime Catmull
[email protected]
310.297.9233 x261

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SOURCE GOBankingRates