used car financing

Looking to snag a used car but short on the ready cash? Used car financing in Australia typically involves loans from banks, credit unions, or dealerships, with interest rates generally higher than new car loans due to the increased risk. Expect rates anywhere from 6% to 12% annually, depending on your credit score and the loan term, which usually spans 1 to 7 years. New car loans might start lower, around 3% to 7%, but used car deals can still be sweet if you shop smart. Always check your credit report, compare offers on sites like Tradingpost and CarShowroom, and watch out for hidden fees or balloon payments. Remember, a shiny used car is great, but a loan that wrecks your budget? Not so much.