When it comes to car loan interest rates in Australia, brace yourself for a wild ride through percentages. New car loans typically hover around 5% to 9% per annum, while used cars might push you into the 7% to 12% range, depending on your credit score and lender generosity. Banks offer stability but often at slightly higher rates, whereas non-bank lenders and credit unions might tempt you with lower rates but watch out for sneaky fees. Remember, the total cost isn't just the interest; loan terms, fees, and your down payment all play their part. For the sharpest deals, consider checking out CarShowroom or ServiceCentral, but always read the fine print lest your dream car becomes a financial nightmare.
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