finance used car Page 9

Short answer: Yes — you can finance a used car in Australia, but expect higher interest and more hoops than with a new-car deal. Common routes are bank or credit-union car loans, specialist lenders used by dealers, personal loans, or broker-arranged finance; terms usually run 1–7 years. Used-car rates typically sit higher than new-car promos — think roughly 6–12% p.a. depending on your credit profile, versus new-car specials often from 0–7% — and lenders may require a larger deposit or lower loan-to-value. Always get pre-approval, shop multiple quotes (bank, broker, dealer), check the vehicle’s PPSR record and service history, and budget for stamp duty, loan fees and optional gap/extended warranties. If a dealer offers 'low monthly payments', ask for the total amount payable and whether there’s a balloon or hefty fees at the end. Talk to your bank or a broker, and consult the lender’s Product Disclosure Statement before signing — or browse Tradingpost or CarShowroom while using ServiceCentral to verify service history.