Oh, the ever-elusive car loan rates—because borrowing money to buy a shiny new set of wheels is as Australian as Vegemite on toast. Expect interest rates for car loans in Australia to hover anywhere between 5% to 12% per annum, depending on your credit score, the lender, and whether you’re buying new or used. New car loans often enjoy the lower end of the spectrum, sometimes as low as 5-7%, while used car loans can creep up to around 8-12%. Terms typically range from 1 to 7 years, with longer terms meaning more interest overall. Don't forget to check out Tradingpost or CarShowroom for current vehicle prices and then swing by ServiceCentral for loan comparisons.
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