WASHINGTON, D.C. — September's average interest rate on new-car loans at auto finance companies climbed to the second-highest point of the year, according the latest report from the Federal Reserve.

Officials calculated the September average was 4.35 percent. Not since February had the figure moved this high. That's when it jumped to 4.72 percent, starting a string of five consecutive months where the average rested above 4 percent.

September's average also created a noteworthy move from the previous month. The Fed determined that the August average was 4.01 percent.

As a result, officials computed the third-quarter average at 4.08 percent.

Meanwhile, the Fed determined both the median maturity level and the loan-to-value ratio were slightly lower in September. The median maturity level slid down to 63.7 months from 63.8 months while the loan-to-value ratio dipped to 86 from 87.

The Fed report also revealed that the average amount financed dropped for the second consecutive month. The September figure was $27,894. In August, it was $27,970, while July's figure was $28,377.  

The average interest rate on 48-month new-car loans at commercial banks was not available for September. However, this figure was 6.24 percent in August and for the third quarter of 2010.

Finally, the Federal Reserve indicated, "consumer credit declined 1.5 percent at an annual rate in the third quarter. Revolving credit declined 8.75 percent at an annual rate, and nonrevolving credit increased 2.5 percent.

"In September, consumer credit increased 1 percent at an annual rate," officials added.