Michigan Among Best States for Auto Loans

By: Brian Johnson Email
By: Brian Johnson Email

Michigan, a state known for the auto industry, it turns out is also number one for least expensive auto loans. GoBankingRates.com is out with a new study and Michigan is ranked number one with the lowest interest rates in the nation averaging at 3.03%.

"A car will only go down in value, so it's always best for the borrower to pay as little in interest as possible," said Casey Bond, GoBankingRates.com managing editor. "Even half a percentage point can add hundreds of dollars to the total cost of a vehicle -- money that person will never get back," Bond added.

Coming up tonight at 5 p.m. on WILX News Tens, we'll have more on what's driving the low rates.


WILX.com is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

Keep it clean, keep it civil, keep it truthful, stay on topic, be responsible, share your knowledge, and please suggest removal of comments that violate these standards.

powered by Disqus
WILX 500 American Road Lansing, MI 48911 517-393-0110
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 220545101 - wilx.com/a?a=220545101