Bankrate.com has declared average rates for new car loans to be just shy of 8 percent, with slightly lower rates for three and four year loan terms. Average rates for used cars stand at around 8.72 percent.

Nonetheless Jesse Toprak, executive director of industry analysis for Edmunds.com, has found that dealers continue to attract buyers regardless of their rates. New car buyers should consider more attractive means of financing new cars offered by particular models - for example the Ford Escape Hybrid, which offers financing at zero-percent.

Some car finance companies continue to set restrictive loan terms such as excellent credit rates, and high interest repayments on shorter loan terms. Terms such as these have many new car buyers considering car-leasing options; indeed in March nearly 20 percent of new vehicles were leased according to industry analysts.

Experts advise all buyers to consider their lifestyles before committing. If you have any uncertainty as far as your career or where you might be living, says Toprak, you’re better off buying.