New car interest rates at automotive finance firms jumped in September 2011 to the highest levels this year, according to the Federal Reserve’s Consumer Credit Report for September 2011. The average interest rate for new car loans in September 2011 was 4.73%, up 0.16% from August 2011 (4.57%). This is the highest the interest rates have been this year. 

New car loan interest rates at automotive finance firms jumped in September to the highest levels this year, according to the Federal Reserve Consumer Credit Report.

The Federal Reserve’s data shows the average maturity levels for cars loans in months has stayed about the same at 62.3 months for September, down just .01%.

The amount financed has declined slightly to $26,673 in September 2011.

Click here for more from the Federal Reserve’s consumer credit report for September 2011.