A Brief Profile of Australian Automotive Consumers

A 2021 global consumer report on the automotive industry revealed that 70% of Australians prefer to buy petrol-fueled cars over electrically charged vehicles. Despite the global push for the use of clean energy as part of the battle versus climate change, the general preference for traditional petrol-fueled cars is still high among Australians.

According to the 2021 Global Automotive Consumer Study, only 18% of consumers in Australia have expressed plans of buying a hybrid electric car, while only 4% stated that they intend to buy an electric car for their next vehicle purchase. Apparently, most motorists in the country prefer driving an automobile that has already been tested as a technology and obtainable at an affordable price. As opposed to electric or electric hybrid cars, of which the cost or price is higher by 28% than the average selling price of conventional automobiles.

Besides, even if electric cars proliferate across the country, it will only increase the demand for electricity. In a separate report about fossil-fueled electricity generation, the use of renewable energy to produce electricity is still facing challenges in trying to meet the high demand for electricity in Australia. Yet the greater concern raised by automobile consumers in Australia is the lack of battery-charging infrastructures that can make electric cars truly reliable as means of private transportation.

How Do Automotive Consumers in Australia Purchase New Vehicles

When it comes to actually buying a new vehicle, the 2021 global consumer report disclosed that 79% of Australians still prefer to purchase a new vehicle by way of in-person transactions. Although they spend a lot of time researching every financing options available, 60% are open to car loan brokerage servicing but only if provided free.

It’s quite apparent that vehicle financing facilities are widely used by Australia’s automotive consumer, since billions of dollars have been accessed to finance car purchases throughout the country. The average loan size varies according to age group, of which people aged between 35 to 45 are the largest group of borrowers with an average car loan size of $31,738.40 or thereabouts. The differences arise if a borrower is married or single, and with or without dependents.

Sixty-one percent (61%) of those looking for vehicle financing prefer to close purchase deals with authorized dealers. Generally, those who buy by way of car loan financing are able to complete their vehicle purchase transactions within 10 up to 30 days from date of loan pre-approval.

Advice from a Car Loan Broker

When purchasing a vehicle from a dealer, National Loans, give advice that when buying a new car from a dealer, one should not immediately accept the financing facility offered by the car dealer. Mainly because car loans or are not a one-size fits all solution.

In providing free service, the people behind the National Loans website helps car loan seekers connect to the best providers of car financing deals. The free service starts with the Pre Approval aspect, to help car buyers determine their financing options based on their budget. That way, they won’t get entangled with a cal loan that could later turn out to be onerous and burdensome.

The professionals of National loans have the capability to tailor fit car loans based on the buyer’s financial circumstance, including those with certain credit issues. Denoting that the servicing commitment focuses on looking for the best ways by which a buyer can purchase his next vehicle; but without feeling trapped and burdened.

Having spent more than 24 years in providing car loan brokerage service, this online service provider was able to build a strong relationship with car dealerships and lending institutions. In turn, car financing brokered by National Loans, has helped a countless number of Australians find the best car financing option for their vehicle purchase.