Looking to throw your hard-earned cash at a car loan? Here’s the deal: car loans in Australia typically come with interest rates ranging from 5% to 12% APR, depending on your credit score and loan term. New car loans can stretch from 1 to 7 years, with monthly repayments that’ll make your wallet weep or grin. Used car loans might come with slightly higher rates, but they’re often quicker to approve.
Beware the hidden fees and always check your credit score before applying. For a quick browse of loan deals and used car prices, try Tradingpost or CarShowroom. And remember: if the repayments sound too good to be true, they probably are.
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