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Car loans now as low as 4.79%

Car loans now as low as 4.79%

A range of lenders are currently offering some of the cheapest car loans in Australian history.

The average interest rate for all the car loans listed on RateCity is 9.79 per cent, with rates as low as 4.79 per cent and as high as 29.99 per cent.

Credit One’s Platinum Express Car Loan starts from 4.79 per cent (comparison rate 5.65 per cent) – although it’s important to note that a cheap car loan may not suit some borrowers.

The car loans listed on RateCity have an average application fee of $197.

Some of the lowest-rate car loans listed on RateCity include:

LenderProductAdvertised rateComparison rate
Credit OnePlatinum Express Car Loan4.79%5.65%
360 Degree FinanceAdvantage Car Loan4.80%5.67%
Mortgage HouseNew Car Loan4.99%6.28%
Bank FirstGreen Car Loan5.29%5.50%
Northern Beaches Credit UnionNew Car Loan5.34%6.10%
Community First Credit UnionNew Car Loan5.34%6.10%
MOVENew Car Loan Fixed5.39%5.66%
Holiday Coast Credit UnionNew Car Variable Loan5.49%5.49%
My Credit UnionNew Car Loan5.49%5.76%
People’s Choice Credit UnionDiscounted Personal Loan (Car Loan)5.64%5.99%

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This article was reviewed by Personal Finance Editor Alex Ritchie before it was published as part of RateCity's Fact Check process.

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