Auto loan rates have been on a decline since the beginning of the year, unlike late in 2008 when the credit crisis was in full swing and the average auto loan rate was increasing.

Commercial banks’ 48 month new auto loans were averaging 7.06 percent in the fourth quarter of 2008, up from the third quarter loan rate of 6.92 percent.

Auto finance companies’ new auto loans averaged 7.09 percent in the fourth quarter of 2008, up considerably from the third quarter 2008 average of 4.87 percent.

The third quarter of 2009 saw auto bank rates decline to 6.61 percent for auto loans issued by commercial banks,  the third straight quarter of declines. New car loans issued by auto finance companies declined even more, the average car loan rate was 3.66 percent in the third quarter of 2009.

What is surprising about the Federal Reserve’s Consumer Credit Report on auto loans is the average loan-to-value ratio has remained high during the entire recession.

The average LTV ratio in the third quarter of 2009 was 90 percent, up from the third quarter of 2008 when the average LTV was 89 percent. The average amount financed has also increased from $26,643 in the third quarter of 2008 to $27,884 in the third quarter of 2009.

Capital One Bank, the banking arm of the credit card company Capital One, is offering some very competitive auto loan rates.

The bank is advertising auto loan rates of 3.95% APR for a 36 month auto loan for a new auto purchase, which is one of the lowest auto loan rates advertised these days.

48 month auto loans and 60 month auto loan rates are higher, the current advertised APR is 4.25% for both loans. The actual interest rate you receive can be higher than their advertised rate and depends on your credit score.

Capital One Bank is also advertising used auto loan rates as low as 4.45% APR for a 36 month used auto loan. Interest rates for 48 month car loans and 60 month car loans are 4.90 percent.

If you already have an auto loan, you might be able to get a better rate by refinancing your loan with Capital One - they are currently advertising a refinance auto loan rate of 4.75% for 36 month loans. The bank claims you can save on average $1084 over the life of a loan. The also say they have a simple and no hassle auto refinance process.

Capital One Auto Loan Rates

MonitorBankRates.com has just released new car loan rate tables that you can use to find the best car loan rates available.

The rate tables include new car loan rates and used car loan rates. Auto loan rate tables include 36 months car loan rates, 60 month, and 48 month car loan rates as well 48 months used car loan rates.

The auto loan rates include rates from both banks and credit unions. On a new $40,000 car, a 60 month car loan in the state of California, we were given rates from about twenty banks and credit unions. The best rate was 3.99 percent from Pentagon Federal Credit Union (PenFed).

The rate tables also include loan points and how much the monthly payment would be on the loan amount entered. Give the auto loan rate tables a try to find the best rates in your state.

Car Loan Rate Tables

Getting the best car insurance rates these days has become a lot easier thanks to sites that give consumers the ability to compare car insurance rates from several companies quickly.

Car insurance is a must to protect yourself and others from costs incurred by injury or property damage if you’re involved in an accident. You must have car insurance to register your vehicle. 

Looking for Car Insurance? MonitorBankRates.com has a car insurance search engine you can use to find insurance companies providing in car insurance in your zip code. Find Car Insurance Companies Here

The biggest question when shopping for  car insurance is how much coverage do I need? The minimum amount of car insurance you can carry is usually set by the state you live in, so you can use the minimum coverage as a starting point. In addition, you will have to determine the minimum amounts you want for each type of insurance coverage.

Types of car insurance coverage include collision insurance, which pays for damage to your vechicle if you collide with another vehicle or object.  If your car is financed, the lien holder will require you to maintain a certain level of coverage just in case of loss or damage.

Comprehensive insurance coverage pays for damage or loss to your auto from other sources other than collision, like fire, theft, etc. Banks will require you to have comprehensive coverage if your auto is financed.

Medical coverage pays for a limited medical expenses for you or a passenger is injured in an accident.

Other types of coverage include towing expenses and rental car expenses during the time your car is being repaired. Car insurance policies will pay a certain daily dollar amount for a rental car for a certain amount of time, usually for a month.  

Now that you have determined what types of coverage you need and want start your search for the best car insurance rates. When you’re comparing rates be sure to compare apples to apples, the amount of liability coverage is usually quoted as 25/50/25, which means up to $25,000 in bodily injury coverage person/ up to $50,000 if two or more persons are hurt/ up to $25,000 in property damage. 

Tip: A good place to start is with an insurance company you already have a relationship with. Some insurnace companies will give you a discount on auto insurance rates if you already have home owners insurance or other types of insurance with them.

MonitorBankRates.com has a comparison tool you can use to start your search for the best auto insurance rates from insurance companies in your zip code.

Bank of America is advertising some of the best car loan rates available these days. The new car loan rate is the lowest auto loan rate available at Bank of America, the current new car loan rate is currently at 4.10 percent for car loans up to 60 months and 4.34 percent for auto loans for 61 months to 72 months.

Getting a new Car? Now is the time to look into how much auto insurance will cost for your new vehicle. Find auto insurance companies offering coverage in your zip code here: Auto Insurance Rates

Bank of America’s used car loan rate for cars purchased at a franchise dealer is currently being advertised at 4.55 percent for car loans up to 60 months and the auto loan rate is 4.74 percent for loans between 61 months and 72 months.

Used car loans for purchasing an auto from a private party is a lot higher than purchasing from a franchised dealer. The current rate of loans up to 60 months is 6.85 percent and 7.65 percent for auto loans between 61 months and 72 months.

Rates for doing an auto refinance are at 4.74 percent for auto loans up to 60 months and 5.54 percent for car loans between 61 months and 72 months. Leased buyout loans, buying your leased auto and financing the purchase,  are at 9.24 percent for car loans up to 60 months and 9.69 percent for car loans between 61 months and 72 months.