Some of the top-rated car loans in January 2025

Australia achieved a record 1,220,607 new vehicle sales in 2024, marking the highest annual result ever recorded, according to the Federal Chamber of Automotive Industries (FCAI). However, despite this milestone, the December 2024 sales of 95,895 vehicles were 2.7% lower than the same month in 2023, signaling a challenging start to 2025.

FCAI Chief Executive Tony Weber noted that while strong sales in the first half of 2024 drove the record-breaking annual result, the market faced declining momentum in the latter half of the year.

“The second half of the year showed a concerning trend with sales in the Private segment falling to very low levels as interest rates and general cost of living pressures impacted Australian families,” Mr Weber explained.

SUVs and light commercial vehicles remained the top choices for consumers, dominating the market. However, vehicles in these segments often present challenges for decarbonisation. This creates a significant hurdle in meeting the ambitious targets set by the New Vehicle Efficiency Standard (NVES), which came into effect on 1 January 2025.

Top car manufacturers (December 2024):

• Toyota: 18,657 sales
• Ford: 8,305 sales
• Mazda: 7,256 sales
• Kia: 6,302 sales
• Mitsubishi: 5,754 sales

Top car models (December 2024):

• Toyota RAV4: 5,119 sales
• Ford Ranger: 4,493 sales
• Toyota HiLux: 3,333 sales
• Toyota Prado: 2,687 sales
• Ford Everest: 2,476 sales

A growing preference for affordable, low-emission vehicles

Mr Weber also observed a growing preference for low-emission vehicles, although the total cost of ownership remains a critical factor for consumers. While battery electric vehicle (BEV) sales were lower than expected, hybrid vehicles (14.1% market share) and plug-in hybrids (1.9%) gained traction as more affordable and accessible alternatives.

For those considering a new set of wheels, there are a variety of financing options in the market. Australians looking to purchase an environmentally friendly vehicle can also consider green car loans offered by some lenders.

These loans are designed to incentivise borrowers for making environmentally-friendly choices. They may come with lower interest rates or discounted fees when purchasing certain vehicle types. However, it's important to carefully read the terms and conditions and compare the features and benefits beyond just the headline rate and fees. Doing so can help you understand the overall value of a loan to you. You can also find options for both new and used car loans to suit your vehicle choice.

For a quicker and simpler car loan comparison, you could consider using RateCity’s Real Time Ratings™. These simple star ratings reflect the cost and flexibility that each car loan offers at any given time, as they are updated regularly. The top-rated car loans in different categories are ranked on RateCity’s Car Loan Leaderboards, and may be eligible for a RateCity Gold Award.

The top-rated car loans today for those borrowing to buy a new eco-friendly vehicle. Assumes a secured $30,000 loan on a 60-month loan term.

Provider

Real Time Rating™Interest rate p.a.Comparison rate* p.a.Monthly repayment

5.99%

5.99%

$387

Australian Credit Licence 364451

Fees & charges apply

Australian Credit Licence 364451

Fees & charges apply

Green Car Loan

• $3k to $150k
• 0 to 5 years
• Variable Rate
• Secured

5.79%

6.01%

$385

Australian Credit Licence 240573

Fees & charges apply

Australian Credit Licence 240573

Fees & charges apply

New Green Car Loan Fixed

• 2024 Award Winner
• From $5k
• 0 to 5 years
• Fixed Rate
• Secured

5.84%

6.13%

$385

Australian Credit Licence 244533

Fees & charges apply

Australian Credit Licence 244533

Fees & charges apply

Green Car Loan

• 2024 Award Winner
• $1k to $150k
• 1 to 7 years
• Variable Rate
• Secured

5.79%

6.24%

$385

Australian Credit Licence 238317

Fees & charges apply

Australian Credit Licence 238317

Fees & charges apply

Green Car Loan - Exceptional Credit

• $5k to $100k
• 1 to 7 years
• New or used car
• Fixed Rate

5.69%

6.04%

$384

Australian Credit Licence 244310

Fees & charges apply

Australian Credit Licence 244310

Fees & charges apply

Green Car Loan

• $20k to $120k
• 1 to 10 years
• New or used car
• Fixed Rate

The top-rated car loans today for those borrowing to buy a new vehicle up to two years old. Assumes a secured $30,000 loan on a 60-month loan term.

Provider

Real Time Rating™Interest rate p.a.Comparison rate* p.a.Monthly repayment

5.99%

6.37%

$387

Australian Credit Licence 237476

Fees & charges apply

Australian Credit Licence 237476

Fees & charges apply

New Car Loan (NSW, ACT & QLD only)

• 2024 Award Winner
• $5k to $100k
• 1 to 7 years
• Fixed Rate
• Secured

6.48%

6.48%

$391

Australian Credit Licence 238991

Fees & charges apply

Australian Credit Licence 238991

Fees & charges apply

Low Rate Car Loan (Special Offer)

• From $20k
• 0 to 7 years
• New or used car
• Variable Rate

5.79%

5.79%

$385

Australian Credit Licence 240712

Fees & charges apply

Australian Credit Licence 240712

Fees & charges apply

Vehicle Loan

• $1k to $200k
• 5 years
• New or used car
• Variable Rate

6.19%

6.56%

$388

Australian Credit Licence 239933

Fees & charges apply

Australian Credit Licence 239933

Fees & charges apply

New Car Loan (Special)

• $1k to $100k
• 0 to 7 years
• Variable Rate
• Secured

5.66%

up to 20.07%

6.45%

$384

Australian Credit Licence 474726

Fees & charges apply

Australian Credit Licence 474726

Fees & charges apply

Low Rate Car Loan Excellent Credit (Amount > $5000)

• 2024 Award Winner
• $5k to $70k
• 3 to 7 years
• New or used car
• Fixed Rate

The top-rated car loans today for those borrowing to buy a used vehicle two years and older. Assumes a secured $20,000 loan on a 36-month loan term.

Provider

Real Time Rating™Interest rate p.a.Comparison rate* p.a.Monthly repayment

5.99%

6.20%

$387

Australian Credit Licence 238293

Fees & charges apply

Australian Credit Licence 238293

Fees & charges apply

Car Loan (Car 1-5 Years)

• 2024 Award Winner
• $3k to $75k
• 1 to 5 years
• Variable Rate
• Secured

6.48%

6.48%

$391

Australian Credit Licence 238991

Fees & charges apply

Australian Credit Licence 238991

Fees & charges apply

Low Rate Car Loan (Special Offer)

• From $20k
• 0 to 7 years
• New or used car
• Variable Rate

6.49%

6.80%

$391

Australian Credit Licence 241077

Fees & charges apply

Australian Credit Licence 241077

Fees & charges apply

Car Loan (0-5)

• 2024 Award Winner
• $4k to $150k
• 1 to 5 years
• New or used car
• Variable Rate

6.24%

6.58%

$389

Australian Credit Licence 237515

Fees & charges apply

Australian Credit Licence 237515

Fees & charges apply

Chief Car Loan

• From $20k
• 0 to 7 years
• New or used car
• Fixed Rate

5.66%

up to 20.07%

6.45%

$384

Australian Credit Licence 474726

Fees & charges apply

Australian Credit Licence 474726

Fees & charges apply

Low Rate Car Loan Excellent Credit (Amount > $5000)

• 2024 Award Winner
• $5k to $70k
• 3 to 7 years
• New or used car
• Fixed Rate