Easing border restrictions, warm weather and well-deserved time off are the perfect ingredients for a great Australian road trip. Perhaps all that is missing is the car.
During the year, new car sales experienced 11 consecutive months of year-over-year growth, even reaching historic levels, before registering declining numbers in the past two months.
Federal Chamber of Automotive Industries chief executive Tony Weber attributes the recent drops to “well-recognized international supply chain issues.”
“This includes constraints on microprocessor supplies as well as the continued impact of factories restricting the pandemic,” Weber said.
Many Australians who didn’t want to wait for their new car to arrive turned to the used car market, which in turn has also grown exponentially over the past 12 months.
Meanwhile, sales of hybrid and electric vehicles (EVs) increased in 2021, as various incentives and funding programs for electric vehicles nationwide and nationwide have been announced in recent months.
While the demand for all types of road vehicles increased during the year, auto loan interest rates remained competitive.
If you’re looking for a new set of wheels to hit the road this summer, RateCity’s auto loan comparison tools can help you find the right financing option.
Our auto credit comparison charts allow you to filter your results to help you find a new, used or ecological car loan that best meets your needs.
To help you start your research, RateCity has put together some of the top rated car loans for December 2021, based on our ranking.
(Rankings are correct at time of posting. Please note that lenders may swap places on the list as interest rates and fees change and RateCity’s tracker reflects those movements.)