Key stats: 2025-26 financial year
- Average car loan size: $37,346
- Average monthly car loan repayment: $844
- Average car loan interest rate: 12.72% p.a.
- Median car loan interest rate: 10.99% p.a.
- Total number of cars in Australia: 22,305,347 (Jan ’25)
Australia is a country of wide expanses, so having a car to get from A to B is essential for millions of Aussies. In fact, at 779 vehicles per 1,000 people across the country as of 2021, we’re in the top ten globally for car ownership rates.
As such, there’s plenty of valuable insights to be mined from digging deep into the data. Savvy has compiled its own primary car finance data, as well as useful secondary sources, to gain a better understanding of where car sales and loans currently sit in Australia.
How many car loans are there in Australia?
- Approximately 12% of Aussies, which is the equivalent of around 2.5 million people, have a car loan, according to Finder's Consumer Sentiment Tracker from July 2024
- The value of personal fixed term loans for road vehicles sat at $4.744 billion as of Q1 2026
- This is slightly down on the all-time highs of $4.894 billion in Q2 2025 and $4.889 billion in Q3 2025
- There were 22,305,347 registered motor vehicles in Australia, as of 31 January 2025
The value of new car loan commitments in Australia remains high as we enter 2026, albeit slightly lower than the figures seen in the middle of 2025. At $4.744 billion, it’s higher than all bar four quarters in the last ten years, but those quarters came between Q4 2024 and Q3 2025, having peaked at $4.894 billion in Q2 2024.
Total registered motor vehicles by state/territory of registration
| 2023 | 2024 | 2025 | |
|---|---|---|---|
| NSW | 6,155,747 | 6,296,646 | 6,407,874 |
| VIC | 5,387,321 | 5,517,628 | 5,686,171 |
| QLD | 4,598,626 | 4,754,324 | 4,892,464 |
| SA | 1,552,356 | 1,594,847 | 1,632,496 |
| WA | 2,437,400 | 2,528,820 | 2,621,126 |
| TAS | 532,237 | 541,222 | 549,847 |
| NT | 166,059 | 168,680 | 170,989 |
| ACT | 331,438 | 337,878 | 344,380 |
| AUS | 21,161,184 | 21,740,045 | 22,305,347 |
| Source: Road Vehicles Australia – January 2025, Bureau of Infrastructure and Transport Research Economics | |||
What is the average car loan repayment in Australia?
- The average car loan taken out through Savvy in the 2025-26 financial year was $37,346
- The average new car loan over this period was $51,417, while the average loan taken out for a used car over the same timeframe was $33,257
- The average monthly repayment on a car loan taken out through Savvy was $844, with an average rate of 12.72% p.a.
- The median monthly payment was $689, based on a loan size of $31,703 and rate of 10.99% p.a.
- Average interest rates ranged from 9.80% p.a. on new car loans to 17.47% p.a. for bad credit car loans
| 2025-26 | Loan amount | Loan term | Interest rate | Monthly repayment | Interest payable |
|---|---|---|---|---|---|
| All car loans | $37,346 | 5 years | 12.72% p.a. | $844 | $13,318 |
| New car loans | $51,417 | 5 years | 9.80% p.a. | $1,087 | $13,827 |
| Used car loans | $33,257 | 5 years | 13.43% p.a. | $764 | $12,585 |
| Bad credit car loans | $30,905 | 5 years | 17.47% p.a. | $776 | $15,649 |
| Interest rates based on average rate available for each profile type through Savvy in the 2025-26 financial year. These aren’t necessarily reflective of the rates you’ll receive on your car loan. Calculations are for illustrative purposes only and don’t include costs such as loan fees, motor vehicle duty or other government charges. | |||||
The differences between the average new and used car loans can be explained simply like this: new cars are typically more valuable, so a larger loan is generally required, while insurers will often offer interest rate discounts for brand-new vehicles. Borrowers who’ve had credit issues in the past will also face higher rates, while borrowing ranges can be more restrictive (depending on your profile).
Interest rates stayed relatively steady in the second half of 2025, with the RBA’s national cash rate sitting at 3.60% by the end of the year. However, we saw the rate quickly spike to 4.35% by May. This means that rates were higher in the second half of the financial year compared to the first.
What cars are Australians buying?
- Toyota accounted for more than one in seven cars financed through Savvy in 2025-26
- The Ford Ranger was the most popular model bought through Savvy
When it comes to car models, utes dominated Savvy’s sales figures. The Ford Ranger was comfortably the most popular car financed through Savvy, as it was throughout Australia in 2025-26, while the Toyota HiLux, Mitsubishi Triton, Nissan Navara and Isuzu Ute D-Max made up four of the next five.
Most popular new cars
- GWM and Chery were the equal-best-selling models among new cars, ahead of Toyota and BYD
- The Chery Tiggo 4 was the most popular new model, with the Haval Jolion and Ford Ranger coming second and third, respectively
GWM and Chery shared the crown for the best-selling new car makes among Savvy deals, bucking the national trend set by Japanese giant Toyota. The popularity of these two Chinese manufacturers propelled the Chery Tiggo 4 and Haval Jolion into first and second place among the best-selling new models through Savvy.
Chinese models in general proved popular with Savvy’s new car buyers, with the BYD Shark 6, Haval H6 and LDV D90 all also appearing in the top ten. Notably, there were no Toyota models that featured in the best-selling new car list, with Ford’s Ranger and Everest, Mitsubishi’s Outlander and Triton and the Isuzu Ute D-Max completing the list.
With the 2026 Jolion starting from just $25,790, it’s in a cheaper price bracket than popular small SUV competitors like the Kia Seltos (from $31,250), Hyundai Kona (from $33,700) and Mazda CX-30 (from $34,360). For the H6, which starts from $34,490, it’s the Hyundai Tucson (from $39,100), Mitsubishi Outlander (from $39,990) and Toyota RAV4 (from $45,990) to which it compares favourably from a financial perspective.
Most popular used cars
- There were 1,300,018 used cars sold in H1 2026, 6.6% fewer than in H1 2025 (1,391,227), according to AADA
- Toyota and the Ranger were once again top of the pops among national used car sales for makes and models, respectively
- Mazda, Mitsubishi and Nissan all fared much better among Savvy’s financed used cars compared to new
- The Holden Commodore was still the sixth-most popular choice among customers, despite having not been manufactured since 2017
Used car sales as a whole were down 6.6% in the first half of 2026 compared to the same period in 2025, with only January recording more monthly sales than the year prior. This is reflected in the fact that each of the top ten most popular vehicle makes experienced drops in sales year-on-year. Such a drop can be almost directly attributed to the surge in EV sales across the country over the last six months, which has eaten into the market share of used car sales.
Only luxury brands Audi (+11.5%), BMW (+3.2%) and Mercedes-Benz (+1.7%) saw growth among the top 20. In terms of models, the ladder-leading Ford Ranger (+3.3%) and Toyota RAV4 (5.2%) were the only top ten models to experience popularity bumps.
As was the case with AADA’s figures, Toyota was far and away the most popular used car with Savvy’s customers, while the Ford Ranger comfortably sat clear of the Toyota HiLux. Used car model sales were dominated by utes, with the Nissan Navara and Mitsubishi Triton making the top five as well. In addition to the HiLux, the LandCruiser and Corolla finished in the top ten, making Toyota the most well-represented manufacturer in the list.
Are Australians keeping up with car loan repayments?
According to Equifax’s Quarterly Consumer Credit Report from the September quarter of 2025, 2.90% of car loans are between 30 and 89 days past due (DPD) and 1.49% are 90 or more DPD, meaning almost 4.50% of all car loans have payments that are more than 30 days overdue.
The total value of these delinquencies has spiked by 24% between the September Quarter of 2024 and the same quarter this year, which speaks to a growing trend of delinquency in the auto loans space. As cost-of-living pressures such as mortgage payments and other personal expenses and debts add up, it's clear that Aussies are finding it tougher to keep up.
A car loan in arrears means there is at least some part of the loan outstanding after the payment date has passed.
How much do cars cost to run in Australia?
- Sydney is the most expensive capital city in Australia for weekly transport costs, at $523 as of Q1 2026
- However, it makes up the biggest percentage of Hobart’s income at 17.4%
While Sydney and Melbourne residents face the highest weekly transport costs of any capital city in Australia by some distance, it’s actually in Hobart where it takes up the highest percentage of people’s income.
According to the Transport Affordability Index from the Australian Automobile Association (AAA), Hobart residents were forking out 17.4% of their payslip towards running their car, well ahead of Darwin (15.8%) in second place. It’s worth noting that transport cost calculations include a wide range of car ownership costs, which can stack up.
Electric vehicle statistics in Australia
- A record number of new battery electric vehicles (BEVs) were sold in Q2 2026, with 69,414 units accounting for their highest-ever market share of 21.0%
- That blew the Q1 2026 record out of the water, more than doubling the 34,435 new cars sold and smashing its 12.3% market share
- Plug-in hybrids (PHEVs) also registered massive record new car sales (34937) and market share (10.6%)
- Electrified vehicles as a whole made up almost half of all new car sales for the quarter (49.2%)
- Tesla’s Model Y and Model 3 and BYD’s Sealion 7 were the most popular EVs financed by Savvy customers in the 2025-26 financial year
The June quarter of 2026 saw EVs and partially electrified vehicles really come into their own, racking up almost half of all new car sales across a three-month span. EVs themselves obliterated their record-setting March quarter performance, with 69,414 new models registered compared to the 34,435 from the first three months of the year. Their market share also soared from 12.3% to 21.0% in that time, meaning more than one in five new cars was fully electric.
It wasn't just EVs that enjoyed a bumper quarter, either. PHEVs were also very popular, with 34,937 registrations over that period. On the flip side, though, hybrid sales have stagnated somewhat, falling behind EV sales for the first time in three years.
The surge in greener vehicle purchases has come against the backdrop of ICE vehicle sales plummeting to a new low, with 167,840 being the third consecutive quarter under 200,000 (the only three times this has happened since the start of 2022.
Best-selling new EV models: 2025
| Model | 2025 sales |
|---|---|
| Tesla Model Y | 22,239 |
| BYD Sealion 7 | 13,410 |
| Tesla Model 3 | 6,617 |
| Kia EV5 | 4,787 |
| Geely EX5 | 3,944 |
| BYD Atto 3 | 3,861 |
| BYD Seal | 3,784 |
| BYD Dolphin | 3,248 |
| MG 4 | 2,986 |
| Kia EV3 | 2,597 |
| Source: Federal Chamber of Automotive Industries and Electric Vehicle Council | |
Car loans by age of borrower
- Generation Y borrowers took out the largest loans through Savvy last financial year, with the $41,230 average amount just beating out Generation X ($40,182)
- Generation Z borrowed the least, at an average of $31,575
- Gens Y and Z made up 78% of all car loans taken out through Savvy across that period
Being a younger generation with the shortest time spent in the workforce, it makes sense that Generation Y and Z applicants would be more likely to need a car loan than someone from an older generation who’s spent more time building their wealth. This is especially the case as they approach an age where starting a family and buying a house are other big-ticket items.
That’s also why it’s understandable that Baby Boomers borrow the least and make up such a small percentage of Savvy’s approved car loan deals. Approaching retirement (if not already retired) and more likely to be asset-rich than younger generations, taking out a loan is less likely to be on their radar.
The cars that depreciate the most (and the least)
- The model that loses the most value over five years is the BMW X5 xDrive30d M Sport, with a depreciation rate of 54.00% for its 2021 model
- The quickest immediate drop is the LDV T60 Max Pro Dual Cab, whose value halves in just two years but remains steady thereafter
- By contrast, the list of cars that retain the most value is dominated by Toyota, with both the hybrid and petrol Corolla Ascent Sport losing less than 10.00% over five years
- Among electric models, the Mercedes-Benz EQE 300 drops 64.18% over just four years, while the Porsche Taycan Y1A has the best retention over the same period (29.67%)
| Highest depreciation | Fuel type | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| BMW X5 xDrive30d M Sport | Diesel | 32.00% | 37.55% | 50.87% | 54.00% |
| Audi Q5 40 TDI Sport | Diesel | 34.45% | 42.70% | 45.52% | 53.91% |
| BMW X3 xDrive30i M Sport | Petrol | 31.51% | 38.73% | 45.72% | 52.62% |
| Hyundai Santa Fe Elite AWD | Diesel | 22.15% | 38.58% | 44.29% | 50.69% |
| LDV T60 Max Pro Dual Cab | Diesel | 49.42% | 48.20% | 52.04% | 50.24% |
| Audi Q7 45 TDI | Diesel | 39.41% | 44.04% | 49.06% | 50.1% |
| Renault Koleos Intens FWD | Petrol | 25.11% | 41.74% | 46.28% | 48.4% |
| Audi A3 35 TFSI | Petrol | 32.31% | 37.21% | 40.25% | 46.7% |
| Audi A5 45 TFSI S Line Coupe | Petrol | 32.09% | 40.78% | 43.54% | 46.5% |
| KGM Musso ELX | Diesel | 35.38% | 35.94% | 42.82% | 46.4% |
| Depreciation rates calculated based on the average between the upper and lower private price guide compared to the price when new on RedBook. Analysis of select models conducted in June 2026 by Savvy. | |||||
| Lowest depreciation | Fuel type | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Toyota Corolla Ascent Sport Hybrid | Hybrid | 9.30% | 15.68% | 4.64% | 5.37% |
| Toyota Corolla Ascent Sport | Petrol | 7.80% | 11.85% | 13.96% | 9.04% |
| Toyota RAV4 GX 4×4 | Hybrid | 7.76% | 13.50% | 12.97% | 9.97% |
| Toyota LandCruiser GXL 3.3LT | Diesel | 4.54% | 9.87% | 13.29% | 14.33% |
| Toyota Camry Ascent Hybrid | Hybrid | 13.89% | 16.20% | 15.55% | 16.01% |
| Mazda3 G20 Evolve | Petrol | 21.14% | 20.06% | 23.88% | 18.2% |
| Toyota Camry Ascent | Petrol | 20.12% | 23.90% | 26.05% | 18.5% |
| Kia Seltos S | Petrol | 13.20% | 20.51% | 28.64% | 19.8% |
| Toyota LandCruiser Prado GX | Diesel | 2.45% | 9.04% | 17.79% | 21.2% |
| Toyota HiLux Workmate 4×4 Double Cab | Diesel | 11.25% | 15.65% | 19.88% | 23.5% |
| Depreciation rates calculated based on the average between the upper and lower private price guide of each model compared to the price when new on RedBook. Analysis of select models conducted in June 2026 by Savvy. | |||||
It’s no surprise to see luxury models high up in the list of cars that lose the most value, given that they come in at a higher starting price that a greater number of Aussies can’t afford. The worst offenders in here are Audi and BMW, with four and three models, respectively. If you’re in the market for a premium car but can’t stomach the price, you could benefit from a heavily discounted price tag by waiting a few years for a used model.
Conversely, the consistent demand for Toyota models means that they’re consistently at the top of any list of cars that retain their value. The Corolla Ascent Sport is a prime example: if you bought a hybrid version in 2021, it could potentially be worth almost 95% of what you paid for it.
However, depreciation is starker when it comes to electric models. With the used EV market still in its relative infancy and prices coming down every year, you’ll see the sharpest declines in value with these vehicles:
| Depreciation – EVs | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Mercedes-Benz EQE 300 | 36.83% | 42.92% | 52.89% | 64.18% |
| Nissan Leaf | N/A | 46.66% | 56.36% | 58.74% |
| Hyundai IONIQ 5 Dynamiq 2WD | 24.38% | 37.64% | 54.51% | 55.62% |
| Kia EV6 Air | 36.49% | 42.62% | 36.49% | 52.64% |
| Polestar 2 Standard range Single motor | 17.27% | 28.71% | 45.19% | 49.21% |
| Tesla Model Y Rear-Wheel Drive | 7.02% | 25.23% | 39.43% | 48.86% |
| Tesla Model 3 Rear-Wheel Drive | 14.94% | 21.45% | 34.76% | 47.67% |
| BYD Atto 3 Standard | N/A | 35.54% | 38.19% | 45.06% |
| Volvo XC40 Recharge Pure Electric | 38.63% | 43.88% | 45.97% | 44.93% |
| Cupra Born | N/A | 27.57% | 35.74% | 37.95% |
| BMW i4 eDrive40 M Sport | N/A | 28.47% | 28.63% | 37.94% |
| Porsche Taycan Y1A I/II RWD | 8.47% | 13.04% | 28.95% | 29.67% |
| Depreciation rates calculated based on the average between the upper and lower private price guide of each model compared to the price when new on RedBook. Analysis of select models conducted in June 2026 by Savvy. | ||||
At one year old, Tesla’s Model Y and Model 3 are among the best EVs in terms of value retention, but these rates blow out over the next three years. A large part of why this is the case is because of the American manufacturer’s slashing of prices on its models, meaning the older, more valuable versions have now been brought crashing back down to earth.
- Motor Vehicle Census, Australia - Australian Bureau of Statistics
- Consumer Sentiment Tracker - Finder
- Road vehicles Australia: January 2025 - Bureau of Infrastructure and Transport Research Economics
- Electrified Vehicles Buck the Trend as Used Car Sales Fall - Australian Automotive Dealer Association
- Mortgage Demand Climbs, Yet Affordability Challenges Rise - Equifax Maps First Home Buyer Demand Hotspots and Identifies Opportunity Zones - Equifax
- Transport Affordability - Australian Automobile Association
- Electric Vehicle Index - Australian Automobile Association
- EV Sales Hit Record Highs in 2025 with 38% Rise and New Monthly Record in December - Electric Vehicle Council
- 2024 Tesla Model Y price cut again in Australia - CarExpert
Most popular cars in Australia
As has been the case for decades now, Japanese automotive giant Toyota reigns supreme on the Australian car market. That much is certainly reflected in Savvy’s sales data from 2025, where more than one in eight cars sold through us were stamped with a Toyota badge.
When it comes to car models, utes dominated Savvy’s sales figures. The Ford Ranger was comfortably the most popular car financed through Savvy, as it was throughout Australia in 2025, while the Toyota HiLux, Mitsubishi Triton, Nissan Navara and Isuzu Ute D-Max made up four of the next five most popular models.
Most popular new cars
Toyota ran away with the title of best-selling car manufacturer once again in 2025, tallying a touch under 240,000 registrations for the year. Its nearest competitor, Ford, sat more than 145,000 units adrift in second place. Notably, though, even Toyota failed to escape the downward trend in sales that affected most of the leading manufacturers this year, sustaining a 0.6% year-on-year drop in numbers.
After being behind at the halfway point of the year by around 9,000 units, Ford reeled in Mazda to claim silver for the second straight year, despite finishing behind 2024's numbers by 5.8%. The final podium finisher also saw a slump in sales, its final tally of 91,923 being 4.2% lower than last year's.
The biggest improver of the top ten was BYD, which more than doubled its 2024 numbers (+156.2% vs 2024) to move into eighth overall. The Shark 6 only arrived on our shores this year, but the dual cab ute finished the year in the top 20 best-selling models. Meanwhile, the carmaker that finished less than 400 units ahead in seventh, GWM, was the only other brand that enjoyed growth in the double digits (23.4% vs 2024).
On the flip side, MG (-18.4%), Mitsubishi (-17.9%) and Isuzu Ute (-12.2%) have all seen notable drops in their YTD numbers.
Although not nearly as dominant this year compared to last (-9.6%), the Ford Ranger was once again the best-selling car model in Australia in 2025. Its 56,555 new registrations were enough to ease past Toyota's RAV4 (51,947, -11.5%) and HiLux (51,297, -4.1%) to take out gold.
Another Toyota model, the Prado, was the big mover in the model rankings, shooting up to sixth overall after not having been in the conversation last year (+166.3%). The Hyundai Kona (22,769, +31.1%) also enjoyed a strong year, while the Model Y from Tesla (22,239, +4.6%) rounded out the top ten as the best-selling electric model.
While there are familiar faces at the pointy end of Savvy’s 2025 new car sales figures, a surprise name pops out ahead of the rest: GWM. The Haval Jolion and H6 proved exceedingly popular among our customers last year, placing the Chinese manufacturer level with Toyota among all new cars financed. Fractionally behind them was another Chinese carmaker, Chery, with each accounting for over 10% of all new car sales in 2025.
The Ford Ranger reigned supreme among individual model sales, with the Jolion following behind in second place ahead of the Chery Tiggo 4, Isuzu Ute D-Max and Ford Everest. The HiLux, which finished behind only the Ranger and RAV4 in total new car sales in 2025, ended the year outside the top ten most popular models among Savvy customers.
Most popular used cars
AADA has released its used car sales figures for 2025, and it’s clear to see some of the same names popping up that we saw in the new car segment. Toyota still maintains a stranglehold on the pre-owned vehicle market (15.6% market share), while the Ranger continues to dominate the charts for individual models, 11.8% ahead of 2024's sales and over 21,000 clear of the second-most popular model, the HiLux.
However, Holden, which was shuttered at the beginning of 2021, remains a favourite among Aussies, racking up 118,800 registrations to sit in eighth spot for used car makes in 2025 (though that number is dropping and will continue to do so). The Commodore is still king, and sat just inside the top 20 most popular models, even with the final Holden-designed car having been produced back in 2017. Nissan, Volkswagen and Subaru also appear in the top ten used car makes, despite not being in the same list for new cars.
Used car sales: dealership vs private
There has been a clear and marked shift towards dealership sales this year, as seen in the graph above based on AADA statistics. Across 2023 and 2024, private sales made up 61.1% and 60.9% of all used car sales, respectively. That number fell to 51.4% in 2025, which shows just how popular dealership purchases are becoming in Australia.
In 2025 alone, used car sales through dealerships increased by 23.8%, compared to the 15.9% drop for private sales. Those two metrics sat relatively evenly at respective increases of 12.6% and 11.7% in 2024.
In line with its national dominance, Toyota led all comers among used cars financed through Savvy in 2025. As was seen in the annual VFACTS data, Ford and Mazda were a distant second and third in this metric. However, the now-defunct Holden remains a very popular manufacturer in the used car market, selling enough to place itself seventh among all brands.
The best-selling used models financed through Savvy are dominated by utes, with the Ranger, HiLux, Triton and Navara all occupying places in the top five. Two other Toyota models, the LandCruiser and Corolla, made the top ten, while the Holden Commodore also finished among the year's best-sellers.
New vs used cars
The average car loan taken out through Savvy in 2025 was $37,049.36. However, that figure is made up of both new and used car loans.
The average new car loan over this period was $52,332.49. Only 17.7% of all car loans approved through Savvy throughout last year were for new models, though, highlighting the popularity and availability of used models in the modern market. The average loan taken out for a used car over the same timeframe was $34,529.13.
It’s worth noting, though, that different vehicle ages attract different loan amounts. The following graph shows the average car loan size for different ages:
In 2025, VFACTS recorded 1,241,037 new car sales and AADA reported 2,316,208 used car sales. This means that 34.9% of all vehicle sales across the year were new (up from 33.8% in 2024) and the remaining 65.1% were used during the last financial year.
What is the average car loan repayment in Australia?
According to the Australian Automobile Association (AAA), the average weekly car loan repayment across Australia in the September Quarter of 2025 was $216.29. However, breaking that down into averages by capital city shows that Perth had the highest average repayment at $219.47 and Brisbane had the lowest at $213.97.
The AAA’s modelling bases its car loan figures on a near-new vehicle financed with a variable rate car loan, but doesn’t disclose the loan amount or interest rate.
Working out the average car loan repayment in Australia is based on two key variables: the size of the loan and the interest rate. The following table shows what the average loan amounts were for different vehicle types and applicants through Savvy in 2025 and what their car loan repayments may look like:
| Type of car loan | Ave. loan amount | Ave. loan term | Ave. interest rate | Ave. monthly repayment |
|---|---|---|---|---|
| All car loans | $37,049 | 5 years | 12.59% p.a. | $835 |
| New car loans | $52,956 | 5 years | 8.99% p.a. | $1,099 |
| Used car loans | $33,891 | 5 years | 11.27% p.a. | $741 |
| Bad credit car loans | $29,869 | 5 years | 18.74% p.a. | $771 |
| Interest rates based on average rate available for each profile type through Savvy in 2025. These aren’t necessarily reflective of the rates you’ll receive on your car loan. Calculations are for illustrative purposes only and don’t include costs such as loan fees, motor vehicle duty or other government charges. | ||||
It’s worth noting that the RBA’s national cash rate sat at a 12-year high of 4.35% for the entirety of 2024 and was only decreased in February 2025. This means that the average rate data from the last financial year doesn’t reflect the rates that are currently available in a decreasing rate market, having dropped for the third time in 2025 to 3.60% after the August 2025 RBA meeting (where it remains as of January).
In reality, your car loan repayments will be based on a wide variety of factors, including your borrowing power, credit score, existing debts and assets, your record repaying similar loans and more. Credit score, in particular, will have a major say in the size and shape of your loan. The following data shows the average car loans approved through Savvy by credit score across 2025:
Are Australians keeping up with car loan repayments?
According to Equifax’s Quarterly Consumer Credit Report from the September Quarter of 2025, 2.90% of car loans are between 30 and 89 days past due (DPD) and 1.49% are 90 or more DPD, meaning almost 4.50% of all car loans have payments that are more than 30 days overdue.
The total value of these delinquencies has spiked by 24% between the September Quarter of 2024 and the same quarter this year, which speaks to a growing trend of increasing delinquency in the auto loans space. As cost-of-living pressures such as mortgage payments and other personal expenses and debts add up, it's clear that Aussies are finding it tougher to keep up.
Finder’s Consumer Sentiment Tracker found that car loans ranked as the third-most stressful expense to manage, albeit at only 5% of respondents. The expenses respondents ranked as the most stressful were groceries (39%) and rent/mortgage (37%) as of August 2025.
Electric vehicle statistics in Australia
Electric vehicles have experienced something of a bumpy road when it comes to their sales in Australia. According to sales figures provided by the AAA, EVs rose from a low of 2,928 sales in the June Quarter of 2022 to a high of 25,552 in the June Quarter of 2023. Since then, they fell to just 17,901 in the March Quarter of 2025, before rebounding to an all-time high of 29,298 and 9.7% market share.
Hybrid vehicles have continued to gain momentum, reaching a record 49,929 registrations in the September Quarter of 2025. Those sales account for over 16.5% of the total cars sold across that period, the second-highest market share for hybrid vehicles after the same quarter in 2024 (16.7%).
The end-of-year electrified vehicle sales data from the FCAI and EVC also showed that this segment has gone from strength to strength in 2025. The 103,270 new battery electric vehicle registrations represent a record total for the third year running, beating out 2024's figures by 13.1%.
Hybrid vehicle sales also reached just under 200,000 for the year, eclipsing last year's total by 15.3%, while PHEVs continued their upward trajectory by doubling their registrations for the second year running. Only two years ago, new PHEV sales sat at just 11,572, but 2025 saw 53,484 models hit the road. This growth was spearheaded by BYD's Shark 6, which accounted for over 18,000 units on its own, and Sealion 6, which sold just over 9,000 models.
In terms of used electrified vehicles, each segment saw significant growth in the first half of 2025. 92.2% more used EVs were sold up to the end of June than over the same period in 2024, while PHEV sales went up by 96.2%. This growth is to be expected, as more people continue to buy into the electrified market and leases taken out during the first big wave of EV growth end. Used hybrid sales still went up by 42.8%, albeit from a much higher sales base.
It’s worth noting that not all carmakers report their full sales figures each month or quarter. Tesla is a prime example of this.
Best-selling new EV models: 2025
| Model | 2025 sales |
|---|---|
| Tesla Model Y | 22,239 |
| BYD Sealion 7 | 13,410 |
| Tesla Model 3 | 6,617 |
| Kia EV5 | 4,787 |
| Geely EX5 | 3,944 |
| BYD Atto 3 | 3,861 |
| BYD Seal | 3,784 |
| BYD Dolphin | 3,248 |
| MG 4 | 2,986 |
| Kia EV3 | 2,597 |
| Source: Federal Chamber of Automotive Industries and Electric Vehicle Council | |
How much do cars cost to run in Australia?
| Capital city | Transport costs per week ($) | Transport costs per week (% of income) |
|---|---|---|
| Sydney | $565.28 | 15.4% |
| Melbourne | $535.81 | 16.5% |
| Canberra | $481.28 | 15.1% |
| Perth | $479.42 | 15.9% |
| Capital ave. | $477.85 | 15.8% |
| Adelaide | $454.86 | 15.2% |
| Brisbane | $452.88 | 14.7% |
| Darwin | $430.92 | 15.5% |
| Hobart | $422.37 | 18.1% |
| Source: Transport Affordability Index, Australian Automobile Association. AAA’s transport cost calculations consist of car loan payments, fuel, insurance, tolls, public transport, registration, CTP and licencing, servicing and tyres and roadside assistance. All data correct as of Q3 2025. | ||
While Sydney and Melbourne residents face the highest weekly transport costs of any capital city in Australia by some distance ($565.28 and $535.81, respectively), it’s actually in Hobart where they take up the highest percentage of people’s income. As of the September Quarter of 2025, this sat at 18.1%, ahead of Melbourne (16.5%) and Perth (15.9%).
Brisbane went from being one of the most expensive places to pay for transport to one of the cheapest, thanks in large part to the Queensland Government slashing public transport fares to $0.50 in the second half of 2024. Transport costs peaked at 19.6% of total income in the June Quarter of 2024, before plummeting to 14.6% by the March 2025 Quarter (it sits at 14.7% in the September Quarter).
Car loans by age of borrower
Another interesting area of analysis is the age of car loan applicants throughout Australia. According to Savvy data from 2025, the average age of all approved car loan applicants was 36 years old, with a median age of 35 and mode (most common) age of 30.
Generation Y is the best-represented generation in Savvy’s data, borrowing the most on average and accounting for 42.5% of all loans approved in 2025. They were closely followed by Generation Z at 35.1% of all loans, while Generation X (19.8%) and Baby Boomers (2.7%) were further back.
Being a younger generation with the shortest time spent in the workforce, it makes sense that Generation Y and Z applicants would be more likely to need a car loan than someone from an older generation who’s spent more time building their wealth. This is especially the case as they approach an age where starting a family and buying a house are other big-ticket items.
That’s also why it’s understandable that Baby Boomers borrow the least and make up such a small percentage of Savvy’s approved car loan deals. Approaching retirement (if not already retired) and more likely to be asset-rich than younger generations, taking out a loan is less likely to be on their radar.
- Average loan amount: $34,521
- Average interest rate: 13.87% p.a.
- Average loan payment: $801
- Average new car loan amount: $46,667
- Average new car interest rate: 11.57% p.a.
- Average new car loan payment: $1,028
- Average used car loan amount: $32,107
- Average used car interest rate: 14.32% p.a.
- Average used car loan payment: $752
- Most popular makes:
- Toyota
- Ford
- Hyundai
- Mazda
- Mitsubishi
- Most popular models:
- Ford Ranger
- Toyota HiLux
- Toyota LandCruiser
- Mitsubishi Triton
- Nissan Navara
- Most popular new make:
- Toyota
- GWM
- Ford
- Kia
- Hyundai
- Most popular new model:
- Ford Ranger
- Isuzu Ute D-Max
- Haval Jolion
- Ford Everest
- Tesla Model Y
- Most popular used make:
- Toyota
- Ford
- Holden
- Mazda
- Nissan
- Most popular used model:
- Ford Ranger
- Toyota HiLux
- Toyota LandCruiser
- Nissan Navara
- Mitsubishi Triton
- Average loan amount: $35,872
- Average interest rate: 14.17% p.a.
- Average loan payment: $838
- Average new car loan amount: $52,032
- Average new car interest rate: 10.35% p.a.
- Average new car loan payment: $1,115
- Average used car loan amount: $31,714
- Average used car interest rate: 15.16% p.a.
- Average used car loan payment: $757
- Most popular makes:
- Toyota
- Ford
- Nissan
- Mitsubishi
- Mazda
- Most popular models:
- Ford Ranger
- Toyota HiLux
- Toyota LandCruiser
- Nissan Navara
- Mitsubishi Triton
- Most popular new make:
- Toyota
- Kia
- Hyundai
- Ford
- Mitsubishi
- Most popular new model:
- Ford Ranger
- Isuzu Ute D-Max
- Mitsubishi Outlander
- Hyundai Tucson
- Kia Sportage
- Most popular used make:
- Toyota
- Ford
- Holden
- Nissan
- Mitsubishi
- Most popular used model:
- Ford Ranger
- Toyota HiLux
- Toyota LandCruiser
- Nissan Navara
- Mitsubishi Triton
- Average loan amount: $35,840
- Average interest rate: 13.61% p.a.
- Average loan payment: $827
- Average new car loan amount: $47,611
- Average new car interest rate: 9.42% p.a.
- Average new car loan payment: $998
- Average used car loan amount: $31,111
- Average used car interest rate: 14.93% p.a.
- Average used car loan payment: $739
- Most popular makes:
- Toyota
- Mitsubishi
- Ford
- Mazda
- Nissan
- Most popular models:
- Ford Ranger
- Toyota HiLux
- Mitsubishi Triton
- Nissan Navara
- Toyota LandCruiser
- Most popular new make:
- Mitsubishi
- MG
- Toyota
- Hyundai
- Kia
- Most popular new model:
- Mitsubishi Outlander
- MG ZS
- Ford Ranger
- Mitsubishi Triton
- GWM Ute
- Most popular used make:
- Toyota
- Mitsubishi
- Nissan
- Holden
- Ford
- Most popular used model:
- Ford Ranger
- Toyota HiLux
- Nissan Navara
- Toyota LandCruiser
- Mitsubishi Triton
- Average loan amount: $34,180
- Average interest rate: 12.03% p.a.
- Average loan payment: $761
- Average new car loan amount: $44,774
- Average new car interest rate: 7.41% p.a.
- Average new car loan payment: $895
- Average used car loan amount: $30,649
- Average used car interest rate: 13.57% p.a.
- Average used car loan payment: $706
- Most popular makes:
- Toyota
- Ford
- Mitsubishi
- Holden
- Mazda
- Most popular models:
- Toyota LandCruiser
- Ford Ranger
- Toyota HiLux
- Mitsubishi Triton
- Nissan Navara
- Most popular new make:
- Toyota
- Mazda
- MG
- Mitsubishi
- Kia
- Most popular new model:
- Tesla Model 3
- Ford Ranger
- Mitsubishi Triton
- Nissan Navara
- Toyota HiLux
- Most popular used make:
- Toyota
- Holden
- Ford
- Mitsubishi
- Nissan
- Most popular used model:
- Toyota LandCruiser
- Toyota HiLux
- Ford Ranger
- Nissan Navara
- Mitsubishi Triton