car loan interest rates melbourne

In Melbourne, car loan interest rates broadly mirror the national scene: secured new-car loans typically land around 6–9% p.a., while used cars sit near 7–12% p.a.

Green or low-emission models sometimes score an extra 0.5–1.0% discount, and the real number to watch is the comparison rate, which bakes in fees.

Credit score, loan term, deposit, and whether it’s dealer finance or a bank all nudge the dial; shorter terms and bigger deposits usually mean less total interest.

Do the boring bits: check establishment fees, monthly fees, any balloon payment, and early payout costs—because surprises are for birthdays, not loans.

Melbourne lenders are competitive, so get quotes in AUD from a few before you sign anything with more fine print than a cricket rulebook.