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:
|Lender||Product||Advertised rate||Comparison rate|
|Credit One||Platinum Express Car Loan||4.79%||5.65%|
|360 Degree Finance||Advantage Car Loan||4.80%||5.67%|
|Mortgage House||New Car Loan||4.99%||6.28%|
|Bank First||Green Car Loan||5.29%||5.50%|
|Northern Beaches Credit Union||New Car Loan||5.34%||6.10%|
|Community First Credit Union||New Car Loan||5.34%||6.10%|
|MOVE||New Car Loan Fixed||5.39%||5.66%|
|Holiday Coast Credit Union||New Car Variable Loan||5.49%||5.49%|
|My Credit Union||New Car Loan||5.49%||5.76%|
|People’s Choice Credit Union||Discounted Personal Loan (Car Loan)||5.64%||5.99%|