In January 2020, the annual total of luxury vehicle sales rose 0.1% to 88,473 vehicles sold, according to the CommSec Luxury vehicle index which has now risen for seven months.

According to CommSec Chief Economist Craig James, the rise in luxury car sales exactly matches the gains in house prices. 

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Source: CommSec

"The wealth effect of higher home prices, the cuts in interest rates and the rise in household asset values has allowed top end buyers to update their rides," Mr James said.

Mr James noted there's a chance the continual rise in luxury car sales will translate to the rest of the lagging vehicle market, with new car sales figures underperforming for the better part of the last two years. 

"The hope is that the strength at the top end of new vehicle and housing markets will extend to broader strength for new vehicle sales, home sales and home prices," he said. 

To gauge luxury car sales, CommSec tracks the sales of Aston Martin, Audi, BMW, Bentley, Ferrari, Hummer, Jaguar, Lamborghini, Lexus, Lotus, McLaren, Maserati, Maybach, Mercedes-Benz, Morgan, Porsche, and Rolls Royce. 

According to the figures, many luxury car buyers prefer to purchase quality used vehicles rather than new vehicles. Loans to buy new cars in December were up 6% on a year ago which is the fastest gain in almost three years.

Annual sales of Lexus were at all time highs in the year to January, and sales of Rolls Royce were just shy of reaching record highs. 

Looking for a new car? The following car loans have some of the lowest fixed-rates on the market:

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LenderCar LoanInterest Rate Comparison Rate* Monthly Repayment Interest Type Vehicle Type Maximum Vehicle Age Ongoing Fee Upfront Fee Total Repayment Early Repayment Instant Approval Online Application TagsFeaturesLinkComparePromoted ProductDisclosure
6.59% p.a.
7.72% p.a.
$588
Fixed
New
No Max
$8
$400
$35,295
  • Demo vehicles accepted up to 7,500km
  • 3-7 year loan terms available
  • Balloon option available for fixed rates
 Disclosure
6.28% p.a.
6.28% p.a.
$584
Fixed
New
No Max
$0
$0
$35,034
  • No vehicle age limit
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
 Disclosure
6.52% p.a.
6.95% p.a.
$587
Fixed
New, Used
No Max
$0
$350
$35,236
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 Disclosure
5.76% p.a.
5.76% p.a.
$577
Fixed
New, Used
No Max
$0
$275
$34,599
5.99% p.a.
6.34% p.a.
$580
Fixed
New
No Max
$0
$250
$34,791
6.25% p.a.
6.52% p.a.
$583
Fixed
New
No Max
$0
$195
$35,009
6.49% p.a.
6.84% p.a.
$587
Fixed
New, Used
No Max
$0
$250
$35,211
6.29% p.a.
7.71% p.a.
$584
Fixed
New, Used
No Max
$15
$250
$35,042
5.67% p.a.
6.10% p.a.
$575
Fixed
New
No Max
$0
$0
$34,524
7.99% p.a.
8.99% p.a.
$608
Fixed
New, Used
No Max
$9
$265
$36,489
7.99% p.a.
8.27% p.a.
$608
Fixed
New
No Max
$0
$200
$36,489
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  • Available for purchasing new and demo vehicles
  • $5,000 to $150,000 loan amount
  • Redraw facility available up to $5000/day
  • Required: Good credit history, stable employment history. Aus citizenship or PR.

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Important Information and Comparison Rate Warning

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The comparison rates in this table are based on a loan of $30,000 and a term of 5 years unless indicated otherwise. The comparison rates for car loans and secured personal loans for the relevant amounts and terms are for secured loans unless indicated otherwise. The comparison rates for unsecured personal loans are applicable for unsecured loans only. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. Comparison rates are not calculated for revolving credit products.

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