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 TagsFeaturesLinkCompare
6.99% p.a.
8.11% p.a.
$594
Fixed
New
1 year
$8
$400
$35,634
Approval within 24 hoursEarly payout available
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
6.49% p.a.
7.61% p.a.
$587
Fixed
New
1 year
$8
$400
$35,211
 Featured Approval within 24 hours
  • Save the planet. Save thousands on your car loan.
  • Get a discounted rate if you buy electric
  • Required: Good credit history, stable employment history. Aus citizenship or PR.
7.29% p.a.
8.00% p.a.
$598
Fixed
New
2 years
$0
$499
$35,889
6.57% p.a.
7.19% p.a.
$588
Fixed
New
No Max
$0
$250
$35,278
Loan amounts from $2k to $75k
  • Available for any new motorised vehicle
  • No ongoing or early exit fees
  • 1-7 years loan terms. Pay monthly, fortnightly, or weekly
  • Get quick decision. Funds in 24 hrs if approved
6.34% p.a.
8.36% p.a.
$585
Variable
New
1 year
$8
$400
$35,084
7.09% p.a.
8.21% p.a.
$595
Fixed
New
1 year
$8
$400
$35,719
7.99% p.a.
8.27% p.a.
$608
Fixed
New, Used
No Max
$0
$195
$36,489
7.49% p.a.
7.99% p.a.
$601
Fixed
New, Used
7 years
$0
$249
$36,060
No ongoing fees
8.27% p.a.
8.27% p.a.
$612
Fixed
New, Used
No Max
$0
$595
$36,731
7.95% p.a.
8.16% p.a.
$608
Fixed
New
5 years
$0
$150
$36,454
8.99% p.a.
9.33% p.a.
$623
Fixed
New, Used
7 years
$5
$0
$37,356
9.24% p.a.
9.86% p.a.
$626
Variable
New, Used
10 years
$5
$195
$37,575
9.49% p.a.
10.82% p.a.
$630
Fixed
New, Used
No Max
$9
$474
$37,795
  • 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.

Monthly repayment figures are estimates only, exclude fees and are based on the advertised rate for the term and for the loan amount entered. Actual repayments will depend on your individual circumstances and interest rate changes. Rates correct as of . View disclaimer.



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