Some of the top-rated car loans in March 2024

Records were made to be broken, at least when it comes to Australians buying cars. As car purchasing accelerates, it’s important for buyers to carefully consider their finance options before committing.

The latest monthly data from the Federal Chamber of Automotive Industries (FCAI) shows that Australia’s automotive industry delivered 105,023 vehicles during February 2024, representing a 20.9% increase on the same period last year.

One vehicle type proved a clear favourite, with 20.3% of the February sales being made up of utes. And out of the 21,327 utes sold in February, just one was an Electric Vehicle (EV). 

But while EVs proved less popular than utes overall, they still accounted for 9.6% of the February 2024 sales. FCAI chief executive, Tony Weber, said that growing EV sales “proves that where a battery electric product exists which suits the driving habits of Australian motorists, work and recreation needs they will purchase these vehicles.”

Highest selling car manufacturers in February 2024

• Toyota
• Mazda
• Ford
• Nissan
• Mitsubishi

Highest selling car models in February 2024

• Ford Ranger
• Toyota Hilux
• Tesla Model 3
• Isuzu Ute D-Max
• Toyota RAV4 

Australians looking for new or used utes or other passenger vehicles could benefit from car finance to fund their purchases. As well as dealer finance, there are a wide range of car loans available from banks and other specialist lenders. There are even green loans that are specifically intended for buying EVs and other low-emissions vehicles that could be worth consideration.

To help you more easily compare car loans, RateCity’s Real Time Ratings™ combine the cost and flexibility of each car loan into a simple star rating that’s updated daily for improved accuracy. The top-rated car loans can be found on RateCity’s Car Loan Leaderboards, and some of these top-rated car loans may become eligible for RateCity Gold Awards.

(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.)

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