Compare Great Wall Motor car loans

Great Wall Motor, also referred to as GWM, is a Chinese automobile manufacturer that specialises in producing sport utility vehicles (SUVs), pickup trucks, and sedans. It was founded in 1984 and is headquartered in Baoding, Hebei Province, China.

After gaining popularity in China, the manufacturer expanded into international markets as well, including Australia in 2009. As of October 2021, Australia was the largest export market for Great Wall vehicles. It has a reputation as one of the cheapest utes in Australia, and is popular amongst tradies and other drivers looking for a bargain. 

GWM vehicles are considered to be more affordable in terms of drive-away price than other manufacturers, as they are a competitor brand in the Australian market. The price of a Great Wall vehicle significantly, depending on the make and model you are interested in.

Car models are available in the GWM range

At the time of writing, this is the range of GWM car prices in Australia:

• Haval H6  SUV - $33,990 - $45,990
• Haval H6GT SUV - $40,990 - $46,490
• Haval Jolion SUV -$28,490 - $40,990
• Ora Hatchback EV -  $43,990 - $47,990
• Tank 300 SUV - $46,990 - $60,990
• Ute - $35,990 - $52,990

Source: Drive.com.au, whichcar.com.au

At the time of writing, the popular GWM ute price ranged from $35,990 to $52,990, depending on the variant. 

GWM Ute Prices

Source: Drive.com.au.

It’s worth noting that at the 2023 Shanghai motor show, an updated version of the 2023 GWM Ute was unveiled, offering a more luxurious interior amongst other perks and features. We may see this roll out in Australia in due course. 

Where are Great Wall vehicles made?

Great Wall Motor vehicles are predominantly made in China and then exported to Australia. In Australia, Great Wall cars were originally launched by an independent distributor, but in 2016 the manufacturer set up a factory-backed distribution operation with a direct line to the headquarters in China. 

If you’re considering purchasing a GWM vehicle, but do not have the funds to pay for it outright, you may be interested in comparing car loan options. As GWM vehicles are considered to be more affordable than others in the market, by choosing this manufacturer you may be able to keep your repayments low with a smaller car loan. 

Benefits of a car loan

• Spread out the cost: A car loan allows you to spread out the repayments of a vehicle over time, with interest. While this is more expensive over time than paying upfront, it can be easier and more manageable for some buyers to make ongoing repayments than dip into their savings.
• Convenience: You’ll be able to drive away today with the vehicle, assuming you gain approval for the car loan, instead of waiting to save up to purchase it. This can offer convenience for some buyers, especially those using a GWM ute for business purposes.
• Credit building:Paying off a car loanon time each month demonstrates financial responsibility, which can positively impact your creditworthiness and improve your credit score.
• Ownership: Unlike leasing, car loans provide you with ownership of the vehicle once you have paid off the loan. This means you have the freedom to modify or sell the car as you please without any restrictions or limitations.

Risks of a car loan:

• Interest charges: As opposed to buying the vehicle outright, a car loan involves paying off interest, and other costs like fees, over the life of the loan. You will always pay more over time with a car loan because of interest charges.
• Depreciation: Cars typically depreciate in value over time, so if you took out a longer car loan term and decide you need to sell the vehicle, you may owe more on the loan than the car's value.
• Repossession risk:As with any financial product there is a level of risk associated with a car loan. Car loans are typically secured with the vehicle used as collateral. If you cannot make your repayments on time, the lender may repossess your car. Additionally, this can have serious consequences for your credit score and financial situation.

Some car loan options may better suit your financial needs than others when it comes time to purchase your GWM vehicle. The cost and value of your GWM car loan may depend on a range of factors, including:

• Interest rate: This determines the interest charges on top of your principal owing. A higher interest rate means higher ongoing interest charges, increasing the overall cost of your GWM loan.
• Comparison rate: A comparison rate combines interest costs with most standard fees and charges, providing a more comprehensive assessment of the total cost of the loan.
• Fees: These fees may include upfront fees, annual fees, and other ongoing charges.
• Features: Certain features, such as the option to make extra repayments and access redraw facilities, can enhance the value of the loan for GWM customers.
• Loan term: Car loan terms are typically 1-5 years. Opting for a shorter loan term may lead to higher monthly repayments but ultimately result in lower total costs. Conversely, a longer loan term can reduce monthly repayments but may entail higher overall interest payments for your GWM.