June 11, 2021
90% of new cars are financed cars in Australia. This means they are bought through finance. You can buy almost any kind of car with a loan but that doesn’t narrow it down for most car shoppers.
OnlineLoans.com.au takes a look at loan amounts, loan terms and possible repayments and what kinds of popular vehicles they can purchase.
So, what kind of cars can different loans buy?
Below are some examples of popular financed cars per loan amount and loan term. Also listed are weekly repayments.
Note that repayments are an estimate only. Also, interest rates are not included. Your personal and financial circumstances can alter these estimates.
$15,000 over 3 years.
– Approx Repayments: $105 per week*
This price range includes reliable commuter vehicles. You’ll find hatchbacks and fuel-efficient city cars here.
Popular used cars
2014 – 2017 Volkswagen Polo / Golf
The TSI versions are petrol and the TDI versions are diesel.
2015 – 2016 Toyota Yaris
Toyotas are ultra popular in Australia and most models see high values. With the release of the new model, including the Yaris GR and Yaris Cross, older models have come under the $15,000 mark.
2014 – 2015 Kia Cerato
2016 – 2017 Kia Picanto
2015 – 2016 Kia Rio
(2016 Kia Rio)
Kia has received a lot of positive feedback over the last decade. The brand provides a 7-year warranty to its vehicles which adds to desirability.
$30,000 over 5 years
– Approx Repayments: $132 per week*
This price range opens up SUVs and some brand-new vehicles. When buying new, remember that optioning up or selecting higher trim levels can push over the $30,000 mark. However, most base models come with Apple CarPlay and Android Auto plus a host of modern safety features.
Popular new vehicles
Hyundai i30
(Hyundai i30 N version)
The i30 is one of Australia’s top-selling cars. A reliable and efficient commuter.
Mazda 2
This price range also allows for the range-topping version, the G15 GT
Mitsubishi ASX
Although not the top trim level, this price range allows you to buy a new SUV – the ASX.
Popular used vehicles ($30,000 over 5 years)
2015 – 2016 Ford Ranger
One of Australia’s favourite and highest-selling utes. Make sure to check the trim level, mileage and condition as its popularity has kept prices high.
2016 – 2018 Toyota RAV4
Due to the release of the new RAV4, prices of late model variants have dropped under $30k. Make sure to check the features and condition when searching for examples.
2018 – 2020 Toyota Corolla
2016 – 2018 Toyota Camry
(source: toyotalifestyle.com.au)
This price range offers some hybrid examples as well as higher trim levels.
2015 – 2018 Subaru XV
Subaru’s AWD high-riding crossover is ideal for weekend getaways. Later models and higher trim levels often come with higher mileage at this price range.
2016 – 2018 Hyundai Tucson
2016 – 2018 Hyundai Kona
Australians are in love with SUVs. It’s not hard to find a good-condition Tucson, Kona or other SUV still under factory warranty with a budget of $30,000.
2015 – 2016 Audi Q3
(source: thenewswheel.com)
Audi SUVs are increasingly popular. It might take a bit of car hunting, but $30,000 can easily fund a Q3, depending on mileage and trim level/options.
$50,000 over 6 years
– Approx Repayments: $195 per week*
This price range opens up numerous new vehicle options, including utes and SUVs, and some high-end vehicles.
Popular new cars
Mazda CX-5 Touring (AWD)
A budget of $50k includes new higher trim models.
Hyundai Santa Fe
(The 7-seat Santa Fe starts at just under $50k)
Toyota HiLux (some models)
Toyota RAV4 (some models)
Toyota utes and SUVs are known for their reliability and popularity. Although some higher trim levels are over $50,000, this budget still includes options for many drivers.
(The 2021 Toyota HiLux. Source toyota.co.nz)
Volkswagen Amarok (some models)
(The higher trim option, the W580. Source: speedcafe.com)
Higher trim levels can exceed $50,000 but this budget allows you to get into a new Amarok. Make sure to research which variant and options suit your needs.
Ford Ranger (some models)
With this budget, even more models are available. 4×4 also becomes an option.
Popular used cars ($50,000 over 6 years)
There’s a huge range of options on used vehicles at this price point. Below is a list of some popular choices.
- 2016 – 2017 Mercedes-Benz A-Class
- 2016 – 2017 Mercedes-Benz C-Class
- 2017 – 2018 Ford Ranger 4×4 Double Cab
- 2015 – 2017 Toyota Hilux SR5 4×4 Double Cab
- 2017 – 2018 Toyota Fortuner
- 2017 – 2018 Mazda BT-50
- 2017 – 2018 Mazda CX-9
- 2017 – 2018 Subaru WRX STI
- 2016 – 2017 Volkswagen Tiguan
There are many more.
Over $50,000
– Approx. Repayments: varies on loan amount
This budget includes popular financed cars such as;
- Toyota LandCruiser
- Tesla models
- Land Rover Range Rover
- BMW X1
- Audi Q7
- Porsche 911 / Taycan / Macan
And more!
(The Porsche Taycan has “dramatic” taillights)
I’ve found a car I like, now what?
Start with a simple quote from OnlineLoans.com.au to see what your rates and repayments might look like. Our fast and simple process puts more Australians behind the wheel of the car that’s right for them.
I haven’t found a car I like, now what?
Not to worry. OnlineLoans.com.au allows you to finance almost any vehicle that suits your needs. The cars listed above are only a drop in the ocean of what’s on offer when you finance cars through our fast and simple system. Narrow down your choices by following this simple process.
Some recent OnlineLoans.com.au clients financed these cars;
Car loans in a [quick] nutshell
Financed cars come in two basic categories when it comes to loans; secured and unsecured
– Secured –
This means the vehicle being purchased is used as collateral. The lending institution, the company that provides the money (e.g. a bank), can take the vehicle back if the borrower doesn’t make the loan repayments, but usually only after all other options are exhausted.
These loans come with less risk for the lender and generally attract lower interest rates.
– Unsecured –
These loans are similar to a personal loan used to buy a car. They are not attached to the vehicle so don’t use it as collateral. The lender can’t take back or repossess the vehicle if the borrower doesn’t pay back the loan.
Typically, these types of loans are less common than secured car loans and attract higher rates as they come with more risk to lenders.
Deposits also play a role in financed cars
Deposits add a few benefits for borrowers. Most people either save for a deposit prior to getting a financed car or selling/trading in an existing car for a deposit.
– Reduce the loan amount
A sizable deposit can significantly reduce the amount you’ll need to borrow. For example, if you plan to purchase a $20,000 vehicle and provide a $3,000 deposit, your loan amount drops to $17,000. These are rough figures.
– Increase the chances of approval
Providing a deposit also increases the chances of finance approval. This is because you’ll be needing a lower loan amount and also some lenders see clients with deposits as being less of a risk – ie; they’re good with money.
Note that typically deposits are optional. If you’re not able to provide a deposit, no problem. OnlineLoans.com.au makes new cars happen.
More information on financed cars
Balloon payments for financed cars.
Can I get a new financed car if I already have one?
Am I eligible for financed cars?
*Disclaimer: Each customer’s circumstances are unique and any potential saving will be determined by your own credit history and borrower profile. In the event that you decide to upgrade your car and the total cost of the new car loan is more than if you were to continue paying the existing, then extra costs may apply.
Interest rates displayed are a circumstantial result of each individual customer’s financial situation at the time of refinancing and are not advertised rates. Each loan application must be individually vetted and interest rates may vary for each application.