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Some of the top-rated car loans in January 2025

Vidhu Bajaj avatar
Vidhu Bajaj
- 3 min read
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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.

Some of the top-rated green car loans

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.

Some of the top-rated new car loans

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.

5.99%

6.37%

$387

Australian Credit Licence 237476

Fees & charges apply

Greater Bank
New Car Loan (NSW, ACT & QLD only)
  • 2024 Award Winner
  • $5k to $100k
  • 1 to 7 years
  • Fixed Rate
  • Secured

6.48%

6.89%

$391

Australian Credit Licence 238991

Fees & charges apply

Police Credit Union
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

SWSbank
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

The Mac
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

Harmoney Australia Limited
Low Rate Car Loan Excellent Credit (Amount > $5000)
  • 2024 Award Winner
  • $5k to $100k
  • 3 to 7 years
  • New or used car
  • Fixed Rate

Some of the top-rated used car loans

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.

Compare car loans in Australia

6.28%

6.28%

$389

More detailsclick for more details

Australian Credit Licence 488228

Fees & charges apply

  • Promoted
  • $5k to $100k
  • 1 to 7 years
  • Fixed Rate
  • Secured

6.28%

6.28%

$389

More detailsclick for more details

Australian Credit Licence 488228

Fees & charges apply

  • Promoted
  • $5k to $100k
  • 1 to 7 years
  • Fixed Rate
  • Secured

6.45%

up to 26.95%

6.45%

$391

More detailsclick for more details

Australian Credit Licence 411227

Fees & charges apply

  • Promoted
  • Special
  • $8k to $50k
  • 1.5 to 7 years
  • New or used car
  • Fixed Rate

5.90%

up to 18%

6.33%

$386

More detailsclick for more details

Australian Credit Licence 364340

Fees & charges apply

  • Promoted
  • Via broker
  • $10k to $250k
  • 1 to 7 years
  • Fixed Rate

5.84%

6.97%

$385

More detailsclick for more details

Australian Credit Licence 395219

Fees & charges apply

  • Promoted
  • $5k to $150k
  • 3 to 7 years
  • Variable Rate
  • Secured

5.99%

7.12%

$387

More detailsclick for more details

Australian Credit Licence 395219

Fees & charges apply

  • Promoted
  • $5k to $150k
  • 3 to 7 years
  • Variable Rate
  • Secured

6.89%

8.02%

$395

More detailsclick for more details

Australian Credit Licence 395219

Fees & charges apply

  • Promoted
  • $5k to $150k
  • 3 to 7 years
  • Variable Rate
  • Secured

6.59%

up to 18%

7.91%

$392

More detailsclick for more details

Australian Credit Licence 364340

Fees & charges apply

  • Promoted
  • Via broker
  • $10k to $250k
  • 1 to 7 years
  • Fixed Rate

Product database updated 05 Jun, 2025

This article was reviewed by Home & Personal Finances Editor Mark Bristow before it was published as part of RateCity's Fact Check process.

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Latest car loans news

Promoted car loans

OurMoneyMarket Services Pty Ltd

Used Car Loan - No vehicle age limit - $5,000-$100,000

Real Time Rating™

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

Interest rate p.a.

6.28%

Comparison rate* p.a.

6.28%

More detailsclick for more details

Australian Credit Licence 488228
Fees & charges apply

OurMoneyMarket Services Pty Ltd

New Car Loan - $5,000-$100,000

Real Time Rating™

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

Interest rate p.a.

6.28%

Comparison rate* p.a.

6.28%

More detailsclick for more details

Australian Credit Licence 488228
Fees & charges apply

Wingate Consumer Finance (NOW Finance)

No Fee Personal Loan

Real Time Rating™

  • Special
  • $8k to $50k
  • 1.5 to 7 years
  • New or used car

Interest rate p.a.

6.45%

up to 26.95%

Comparison rate* p.a.

6.45%

More detailsclick for more details

Australian Credit Licence 411227
Fees & charges apply

Stratton Finance

New Car Loan

  • Via broker
  • $10k to $250k
  • 1 to 7 years
  • Fixed Rate

Interest rate p.a.

5.90%

up to 18%

Comparison rate* p.a.

6.33%

More detailsclick for more details

Australian Credit Licence 364340
Fees & charges apply

product data updated on

Product data updated on 5 Jun 2025