used car loan interest rate

Used car loan interest rates in Australia typically range from 6% to 12% per annum, depending on your credit score, lender, and loan term. New car loans often have slightly lower rates, sometimes dipping below 5%, thanks to manufacturer incentives. For used cars, expect lenders like banks, credit unions, and finance companies to scrutinize the vehicle's age and condition before offering the best rates. If you’re hunting for a bargain on your loan, sites like Tradingpost and CarShowroom can help you compare offers, but don’t forget to factor in the total repayment amount, not just the headline interest rate. Remember, a flashy low rate won’t save you if the loan fees are through the roof. Always read the fine print before signing away your future paychecks.