used car loan rates

Used car loan rates in Australia typically range from 6% to 12% per annum, depending on your credit score, lender, and loan term. New car loans usually enjoy lower rates, often between 4% to 8%, thanks to manufacturer incentives. Banks, credit unions, and online lenders all compete, so shopping around on sites like ServiceCentral can save you a pretty penny. Expect loan terms of 1 to 7 years, with shorter terms attracting better rates but higher monthly repayments. Remember, used car loans might come with stricter lending criteria and sometimes fees for early repayment.