While getting your next vehicle can be harder these days, finding the right financing option doesn’t have to be that difficult.
New car sales figures from the Federal Chamber of Automotive Industries (FCAI) revealed that a total of 101,233 new vehicles were sold nationwide in March 2022, a slight drop of 0.5% from to March 2021.
FCAI chief executive Tony Weber said the relatively stable result reflected the challenges facing the global automotive industry.
“This is historically a unique period in which supply rather than demand determines the size of the market. This is due to manufacturers recovering from shutdowns related to the pandemic and the current global shortage of microprocessor units,” Weber said.
“Consumer demands and demand for new cars remain strong. Manufacturers are working hard to match this demand with supply.
This follows the prediction that problems in the global supply chain for microprocessor units will continue until at least 2023, further delaying the arrival of new cars and continuing to drive up vehicle prices by opportunity.
Despite these challenges for the Australian car market, and even though it may in some cases be more difficult to track down the car you are looking for, there is always the possibility of securing your next set of wheels.
While some of the most popular new car models may have a waiting time of up to 12 months, other models may be available much earlier. Plus, if you spend some time doing your research, you might find a used car that ticks all the boxes.
Luckily, finding auto financing for your next vehicle can be a whole lot easier. RateCity’s auto loan comparison tools can help you find the right financing option.
Our car loan comparison charts let you filter your results to help you find a new or used car loan that might best suit your needs.
To help you start your search, RateCity has rounded up some of the highest rated car loans for April 2022, based on our rankings.
(Rankings correct at time of publication. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects these movements.)