If you thought about treating yourself to a set of new wheels in 2017, you're not alone - so did a record number of Aussies, according to ABS data.
Our love affair with our cars isn’t showing signs of slowing down any time soon, with total sales of new vehicles rising by 6.7% over the year to December 2017, well above the previous year’s 2.1% growth.
And despite red hot property markets in Sydney and Melbourne, car sales also outstripped home loans last year, with only 86,250 home loans agreed each month, compared with around 100,476 new cars sold, according to MPA.
But Mozo Director, Kirsty Lamont cautioned anyone hitting the car yards to make sure they have their finances sorted out before falling in love with their next ride.
“A competitive car loan can come with an interest rate as low as 5.14% attached, so shopping around for the best deal on loan before you shop around for a car can really pay off,” she said.
“Plus, you’ll then be able to factor the interest payments into your budget, to work out how much you can spend on your new wheels.”
So if you’re on your way to pick up a brand new car this month, check out some competitive car loans below.