With the combination of rising auto sales and low interest rates encouraging more lending to subprime borrowers, the personal-finance website WalletHub has released its first-quarter installment of its Auto Financing Report in conjunction with its in-depth analysis of 2017’s "Cities that Overspend on Cars."

Some highlights:

• Interest rates for new cars are near their lowest point in three years, with the average new-car loan today charging 16 percent less interest than the average used-car loan.

• Compared with buyers who have excellent credit, those with fair credit will spend about six times more, or about $6,403, in interest over the life of a five-year, $20,000 loan when financing a vehicle.

• The best options for financing a new car include car manufacturers (rates at 43 percent below average) and credit unions (rate at 25 percent below average). Secondary options include national banks (rates at 2 percent above average) and regional banks (rates at 29 percent above average).

• Car manufacturers continue to lack transparency when it comes to leasing offers, with the average automaker receiving a WalletHub Transparency Score of 4.68 out of 10.

Source: Wallethub

Here are the cities where residents spend the most on cars, according to the analysis:

Ruston, LA

Williamsburg, VA

Ellensburg, WA

Morgantown, WV

College Station, TX

Rio Grande City, TX

Kingsville, TX

Warrensburg, MO

Milledgeville, GA

Mercedes, TX

Deming, NM

Stillwater, OK

Murray, KY

Newark, DE

Bloomington, IN

Stephenville, TX

San Marcos, TX

San Luis, AZ

Delano, CA

Dahlonega, GA

Here are the cities where residents spend the least on cars, according to the analysis:

Scarsdale, NY

Cupertino, CA

Hoboken, NJ

Saratoga, CA

Chevy Chase, MD

Bronxville, NY

Lexington, MA

Los Altos, CA

McLean, VA

Manhattan Beach, CA

Palo Alto, CA

Foster City, CA

Ridgewood, NJ

Westport, CT

Powell, OH

Winchester, MA

Westfield, NJ

Garden City, NY

Birmingham, MI

Plainview, NY

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