Interest.com's weekly poll of major lenders taken on July 16 found the average cost of a:

• Five-year new-car loan close to its lowest level since we began tracking rates in 1998. It held at 7.09%. That's almost three-quarters of a point below the 7.82% we were paying last July and eight-tenths of a point lower than the 7.94% we paid two years ago.
• Four-year new-car loan dipped to 7.05% from 7.06%. This is almost three-quarters of a point less than the 7.76% we paid this time last year, and significantly lower than the 7.90% those loans cost in July 2006.
• Three-year new-car loan edged down to 6.99% from 7.00% the previous week. But it's two-thirds of a point lower than the 7.69% we were paying this time last year. It's more than three-quarters of a point less than the 7.84% we shelled out in July 2006.
• Three-year used-car loan fell to 7.73% from 7.74%. This loan costs a lot less than the 8.55% we paid last July, and it's close to a point-and-one-quarter below the 8.91% we paid the year before.

Check here to find the best auto loan rates in your area.