These top-rated car loans for October could help you finance your next car

The new vehicle sales in Australia have continued to climb, with new data showing that four of the past five months have each been record months. 

The latest research from the Federal Chamber of Automotive Industries (FCAI) saw 110,702 new vehicle sales being recorded, representing a 18.3% increase on the same period in 2022 - a new September record. These results are also up from the record 109,966 new vehicle sales that were recorded in August 2023. 

FCAI chief executive, Tony Weber, said that “the record result shows that Australian car buyers value a broad choice of vehicles in a range of price brackets that suit the family or business budget.”

“Consumers have a choice of vehicles across 20 light vehicle segments – from small passenger cars through to larger utes – confirming Australia’s position as one of the most open and competitive new vehicle markets in the world.

“Our advice is that the supply of vehicles into Australia, including electric vehicles, continues to improve so those consumers who want to buy a new vehicle should visit a dealer or manufacturer.”

Highest selling car manufacturers - September 2023

• Toyota - 20,912 vehicles sold
• Mazda - 8031 vehicles sold
• Ford - 8015 vehicles sold
• Kia - 7303 vehicles sold
• Hyundai - 6217 vehicles sold

Highest selling car models - September 2023

• Toyota Hi-Lux - 5776 vehicles sold
• Ford Ranger - 5429 vehicles sold
• Tesla Model Y - 3811 vehicles sold
• Isuzu Ute D-Max - 2885 vehicles sold
• Toyota RAV4 - 2798 vehicles sold

Out of the record-breaking September sales, SUVs and Light Commercial vehicles made up 79.4%, while Passenger vehicles made up 16.8%. Additionally, battery electric vehicles accounted for 8.0% of sales while electrified vehicles (battery electric, hybrid and plug-in hybrid) recorded 18.3% of sales.

Compare top-rated car loans today

For those Australians planning to invest in a new set of wheels, you might want to carefully consider car finance choices first, such as by comparing competitive car loans options.To help make this process quicker and simpler, RateCity has ranked the top-rated car loans on our Leaderboard page, based on our Real Time Ratings™ system.

Real Time Ratings™ gives each car loan a score out of five stars, based on cost and flexibility. But unlike other ratings systems that rank their products once or twice a year, our Real Time Ratings™ system ranks products as you use the site, for improved accuracy when creating your shortlist

(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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Ask the lender for information about how it determines a vehicle to be ‘green’ or ‘eco’ and how it contributes to emissions reduction and environmental responsibility.

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