car loan for used car

Looking for a car loan for your trusty pre-loved steed? Used car loans in Australia typically come with slightly higher interest rates compared to new car loans, ranging from about 6% to 12% APR, depending on your credit score and lender. Loan terms usually stretch from 1 to 7 years. Expect to put down a deposit—often around 10-20% of the car's price—to sweeten the deal. New used cars can cost anywhere from a few grand for older models to $30,000+ for recent ones, so your loan amount will vary accordingly. For the best rates, shop around lenders like banks, credit unions, and specialized car finance companies. Don't forget to check listings on Tradingpost and CarShowroom to gauge prices before you commit.