About the survey:
Rates and information are gathered for the purchase of a new automobile. The information below applies to loans of $20,000 for borrowers who have good credit, and who are not clients of the listed institution. The rates shown are for 'coupon book' or 'statement' method of making monthly payments.

These are fixed rate loans for the term shown. The survey is based on loans for an 80% LTV ratio (the borrower makes a dowpayment of 20% toward the purchase), but some lenders offer 85% or 90% financing at the same rates and terms. Where this is the case, that ratio is listed instead.

Some lenders will offer different rates for larger or smaller loan amounts, longer or shorter loan terms, charge different rates if you wish to have your payment automatically debited from an account, or may offer other relationship-based discounts.

Survey Source: HSH Associates, Pompton Plains, NJ

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Comments/Explanation of terms

Metro Area: The region in which the lender offers the terms shown.

Loan Type: self-explanatory.

Lender: The institution. If a credit union, you'll need to contact them for membership information and details.

Phone: The lender's contact number.

Interest Rate: The current rate of interest for the loan shown.

Repay term: The term of the loan, expressed in months.

Maximum Loan: $20,000. Some lenders may offer the same rate for higher loan amounts.

LTV: Loan-to-Value ratio. A way to express the inverse of "percent downpayment". For example, a loan with a 10% downpayment would have a 90% LTV, 20% down = 80% LTV, etc.

Loan Fee: If any, the fee is expressed in dollars.

Loan Comments: Any terms or restrictions which may apply.