Low Interest Rates On Car Finance = Great Time to Buy

There’s plenty of good news for Australians who are considering buying a new car in 2012. To sum it up in three words: low interest rates! Car finance is comparatively cheap at the present moment, which means now is an excellent time to purchase your new vehicle and save a significant amount of money.

Strong Aussie dollar and weak global economy keeping rates down

One of the contributing factors to the low interest rate car finance that we’re seeing in Australia is an unusually-strong dollar, which is currently trading above 1.06USD. Our well-performing currency, coupled with financial uncertainty in Europe and the US, have kept downward pressure on car finance interest rates in Australia.

Car sales are picking up around Australia

After a dip in the middle of last year, we saw a sustained recovery in the Australian car market toward the end of 2011, and this trend has continued into January this year. With interest rates remaining low in the foreseeable future, we can expect 2012 to be a very busy year for car sales around Australia.

More competition + lower interest means big savings on car finance

This is the bottom line for consumers: 2012 looks very promising. Increasing car sales and low interest rates on finance mean there will be a huge amount of competition in the Australian automotive market this year.

Naturally, more competition amongst car dealers means more competition amongst finance lenders too. If you’re looking to buy a new car this year, you’re in a pretty strong bargaining position. Provided, of course, that you do your research first and seek professional advice.

At GetApproved we can help you make sense of the car finance market and choose a loan that saves you money and suits your long-term goals. Every year we help hundreds of Australian motorists realise their dreams at the lowest possible cost. So if you’re serious about great value car finance, get in touch with our friendly team of experts today.