Rates peaked at 11.57% in November 1974, and it took several years for them to drop below 11% again.Īs the U.S. The 1973-1975 recession saw rates slowly begin to rise as the country dealt with issues like high inflation, high unemployment and a global stock market crash. They hovered consistently around 10% until about May 1973. When the Fed first began tracking this data in February 1972, auto loan rates sat at 10.2%. We’ll summarize the FRED findings by decade below. ![]() The Fed began tracking auto loan rates for new cars with 48-month loan terms in February 1972. Historical Auto Loan Rates: 48-Month Loans It’s important to note that the auto loans tracked in these data sets come from commercial banks. We’ll also look at loans with 60-month and 72-month terms, though the Fed tracked these for significantly less time. The most comprehensive set relates to 48-month loans. Our main source of information for this article is FRED’s Automobile Loan Rates data page, which presents historical data for various loan terms over a certain period of time. FRED combines data from several public, private, national and international sources, offering a number of tools to help users interact with and understand the information collected. ![]() ![]() The goal was to collect and present data that helps contextualize the Federal Reserve’s monetary policies. Louis started the Federal Reserve Economic Data (FRED) database in the early 1990s.
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