Planning a road trip over Easter? Want to finally go and visit those relatives you haven’t seen in what feels like more than a year? If you’re wanting a fresh set of wheels to hit the road, you may be in the market for a car loan.
For a faster and simpler way to find some of the best car loans to suit your needs, RateCity has compiled its Car Loan Leaderboards, which rank car loans in different categories by their Real Time Ratings™, which combine the cost and flexibility of different loans.
(Rankings are correct at the time of publishing. Please note lenders may trade places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)
Green car loans
If you want to see what the fuss is about with electric and hybrid vehicles, or would simply prefer a more fuel-efficient vehicle, a green car loan could be what you’re looking for. While these loans may be limited to specific types of cars, they often offer lower than average interest rates, plus other incentives, such offering to offset the car’s carbon emissions for the life of the loan.
New car loans
Whether you prefer the shine of a brand new car, or at least a vehicle that’s less than two years old, there are car loan options for you. While most of these loans are secured by the vehicle and have fixed interest rates, many of them offer flexible repayment options. This could allow you to make extra car loan payments in order to own your vehicle sooner and save on interest charges.
Used car loans
While new cars are nice, you may prefer the confidence of knowing that your vehicle has proven itself. Loans for buying cars over two years old may offer features such as instant approval, or access to a redraw facility, so you could take extra repayments back out of your car loan if you needed the money in a hurry.