Looking for a loan to buy a car in Australia? You can expect interest rates typically ranging from 5% to 12% per annum depending on your credit score and the lender. New car loans often have better rates than used car loans, but beware the fine print. Loan terms usually span between 1 to 7 years, with monthly repayments adjusted accordingly. Make sure you factor in insurance and registration costs—not just the shiny new wheels.
Popular lenders include banks, credit unions, and online financiers. Websites like Tradingpost and CarShowroom can provide price references to help you judge the loan amount you need. Always read the loan contract carefully to avoid nasty surprises!
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Know someone looking to buy or sell something? Send them to Tradingpost, Australia's original marketplace.
