car loan for used cars

Looking for a car loan to nab a second-hand set of wheels? In Australia, used car loans often come with slightly higher interest rates than new car loans, typically ranging from 6% to 12% APR, depending on your credit score and the lender. Loan terms usually span 1 to 7 years, with some wiggle room. Keep an eye out for lenders that specialise in used vehicles—banks, credit unions, and specialist lenders all have different appetites. Don't forget to check out listings on Tradingpost and CarShowroom to estimate your budget before diving into applications.

Remember, a solid deposit and good credit history can save you from the dreaded loan sharks. And always read the fine print; some loans tack on fees for early repayment or balloon payments. Happy hunting, and may your used car loan not feel like a used car itself!