Asking the average car loan rate in Australia is like asking the average price of a pie—depends where you shop and how fancy the crust is.
As a ballpark, secured new-car loans commonly sit around 6–9% p.a., and used-car loans around 7–12% p.a., with comparison rates typically ~1–2 percentage points higher once fees are baked in.
The exact number swings with the RBA cash rate, your credit score, loan term, deposit, and whether the lender thinks your budget is more V8 Supercar or city runabout.
To sharpen the rate, aim for a newer car, a shorter term, a decent deposit, and always compare the comparison rate rather than the headline teaser.
If a lender’s offer starts with a one and a teeny decimal, it’s probably a unicorn; if it starts with a 13, you can likely do better.
LightingListing your ad only takes a few minutes, and most categories are free.
Post an adA weekly hand-picked round-up of the best bargains, free stuff, and trending listings. No spam, unsubscribe anytime.
Know someone looking to buy or sell something? Send them to Tradingpost, Australia's original marketplace.
