In 2003, the fed had dropped to 1%, prime was 4%. I could get you a car loan for 72 months at 3.99% if you were 730+ fico. today, the fed is .25% , prime is 3.25%. I can get you 5.99% x 72 on a new car if you're 730+.
the 2.75% difference is profit to the banks.
they're just as bad as the oil companies, folks.
http://www.moneycafe.com/library/primerate.htm#chart