best used car loans australia

Looking for the best used car loans in Australia? You'll want to shop around, because rates and terms can vary wildly. Expect interest rates anywhere from about 6% to 12% depending on your credit score and the lender. Major banks, credit unions, and specialist lenders like those found on ServiceCentral can all offer deals. Loan terms typically range from 1 to 7 years, with longer terms meaning smaller monthly payments but more interest paid overall.

Keep an eye out for fees and whether the loan covers the entire vehicle price or just part of it. Used car loans also often require a deposit of around 10-20%. If you're hunting on Tradingpost or CarShowroom for your next set of wheels, consider lining up your finance first so you know your budget.