Cox Automotive Auto Market Report<\/a>, used car rates averaged 13.93 percent at the end of September, an increase of one basis point. New car rates were at 9.54 percent.<\/p>\n\n\n\n\u201cThe Fed cut but auto loan rates are little changed so far,\u201d said Cox Automotive Chief Economist Jonathan Smoke. \u201cThe Fed did a larger than expected 50 basis points cut two weeks ago but yields have since increased and auto rates are little changed.<\/p>\n\n\n\n
\u201cDespite the minimal movement in September, this is the first month since the spring of 2022 that auto rates are down on a year-over-year basis.\u201d<\/p>\n\n\n\n
Used vehicle loan rates peaked at 14.59 percent in February.<\/p>\n\n\n\n
Used vehicle sales were up in September by 6 percent. For 2024, used vehicle sales have increased by 3 percent versus 2023.<\/p>\n\n\n\n
<\/p>\n\n\n\n
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