Some of the top-rated car loans in September 2024

The August 2024 vehicle sales statistics from the Federal Chamber of Automotive Industries (FCAI) indicate that while car sales were down year on year, they were still the second-highest August results ever recorded in Australia.

Vehicle sales were found to be down 10.6% compared to August 2023, which itself beat the August 2017 record by 13.8%. FCAI chief executive, Tony Weber, described this as “a positive result in historic terms.”

“Once again, the new car market is showing signs of resilience as cost-of-living pressures and interest rates continue to impact the economy.”

Based on the FCAI stats, SUVs and Light Commercial vehicles remain popular, representing 57.5% and 22.9% of the market respectively, for more than 80% of the total market. What’s more, hybrid sales were up 44.9% on August 2023, while sales of plug-in hybrid vehicles were up 119.8%, indicating a shift towards low-emission vehicles. 

Highest selling car manufacturers in August 2024

• Toyota (21,490 sales)
• Ford (8890 sales)
• Mazda (8263 sales)
• Kia (6903 sales)
• Hyundai (6211 sales)

Highest selling car models in August 2024

• Toyota RAV4 (6712)
• Ford Ranger (5431 sales)
• Toyota Hilux (4496 sales)
• Isuzu Ute D-Max (2548 sales)
• Toyota Landcruiser (2504 sales)

Australians hoping to purchase low-emissions vehicles, from hybrids to electric vehicles (EVs), have a variety of car finance options to choose from. This includes green car loans, which often have specific eligibility criteria around the vehicles you can purchase, but charge relatively low interest rates. You can also compare other car loan options for new and used vehicles, remembering that the interest rates, fees, features and benefits may all affect their overall value. When comparing green car loan options, ensure you 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.

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.  

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