Australia Car Finance Market Outlook to 2028F

By Category of Vehicles (Passenger Vehicles, Commercial Vehicles), By Ownership of Vehicles (New Vehicles, Used Vehicles), By Category of Lenders (NBFCs, Universal and Commercial Banks, Captives), By Loan Tenure 12-24 Months, 25-48 Months



Product Code:KROD119

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Published on

January 2023

Total pages


About the Report

About the Report

The report provides a comprehensive analysis of the potential of Australia car finance market. The report covers an overview and genesis of the industry, market size in terms of number of products sold and revenue generated.

Its market segmentations include by Category of Vehicles, By Ownership of Vehicles, By Category of Lenders, By Loan Tenure; growth enablers and drivers; challenges and bottlenecks; trends driving adoption trends; regulatory framework; end-user analysis, industry analysis, competitive landscape including competition scenario and market shares of major players. The report concludes with future market projections of each market segmentation and analyst recommendations.

Market Overview:

According to Ken Research estimates, the Australian car finance market – which grew from approximately ~% in 2018 to approximately ~% in 2023P – is forecasted to grow further into ~% opportunity by 2028F. The Australian car finance market contributed to a global growth rate of ~%. With changing consumer preferences and preferred car models offered by companies, consumers are shifting towards car financing models to maintain their financial stability and own a car that can be easily financed over longer and shorter term EMI.

Australia Car Finance Market Revenue

  • Changing consumer preferences and ease of owning a pre-owned car at a much more affordable price have provided significant traction to the market.
  • Used vehicle dealers and OEMs now offer with better maintenance plans, longer life services and effective discounts which has helped key OEM to engage the consumers attention.
  • In February 2022, The Australian Government announced its investment of $ 6.1 Mn to accelerate the JET Charge's roll-out of electric vehicle charging infrastructure which has been a key challenge hindering electric vehicle adoption in the region.

Key Trends by Market Segment:

By Ownership of Vehicles: In Australia, changing consumer preferences and ease of owning a pre-owned car at a much more affordable price have provided significant traction to the market. Australia is an emerging economy with lowered GDP growth rate, people have low purchasing power. Used vehicle financing helps people to own a personal vehicle at the much-lowered price at affordable EMI installments.

Australia Car Finance Market Segmentation By Ownership of Vehicles

By Category of Vehicles: With changing passenger vehicle landscape in Australia, in August 2022 Bank Australia shall stop giving the loans for IC engine model cars from 2025. The banks in Australia will only finance the hybrid and electric vehicles in order to take the country towards green economy. Considering these factors and developments, demand for passenger sales financing is expected to witness high growth rate during the forecast period.

Australia Car Finance Market Segmentation By Category of Vehicles

Competitive Landscape

In Australia Car Finance Market there are about ~ players operating in the overall market, and top players accounted ~% share in the market in terms of revenue. Australia Car Finance market is fragmented in nature. The major parameters on which these players complete includes loan tenure, rate of interest, ease of loan procurement and affordable down payments. Key major players include Toyota Finance Australia Limited, National Australia Bank Limited, Australia and New Zealand Banking Group Limited, Commonwealth Bank, Car Clarity etc.

Australia Car Finance Market Competitive Landscape

Future Outlook

During the forecast period of 2023-2028, it is anticipated that the car finance market in Australia will grow at a CAGR of ~%, leading to consumption of ~ tons by 2028F. Major players account for a considerable percentage of online sales in the region and actively participate in providing easy loans and reducing customer hassle to gain more market share in future. Car finance loans are continuing to rise in Australia post covid. Moreover, this has triggered the demand for financing a car based on down payments and paying rest amounts in the form of monthly EMI.

Scope Of The Report

Scope of the Report

By Category of Vehicles

Passenger Vehicles

Commercial Vehicles

By Ownership of Vehicles

New Vehicles

Used Vehicles

By Category of Lenders


Universal and Commercial Banks


By Loan Tenure

12-24 Months

25-48 Months

49-60 Months

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

  • Existing Auto Finance Companies
  • Banks
  • OEM Dealerships
  • Captive Finance Companies
  • Credit Unions
  • Private Finance Companies
  • New Market Entrants
  • Government Organizations
  • Investors
  • Auto mobile Associations
  • Auto mobile OEMs 

Time Period Captured in the Report

  • Historical Year: 2018-2023P
  • Base Year: 2023P
  • Forecast Period: 2023P– 2028F


Major Players Mentioned in the Report

  • Car Finance Australia
  • National Australia Bank Limited
  • The Australia and New Zealand Banking Group Limited
  • Toyota Finance Australia Limited
  • Auto Finance Australia
  • LifeX Finance
  • Car Clarity
  • Simply Finance
  • Journey Finance
  • Car
  • C1 Car Loans
  • Stratton Finance Melbourne
  • Driva
  • Zoom Car Loans
  • Fingo Finance


  • ANZ
  • Commonwealth Bank CBA
  • NAB
  • Westpec

Table of Contents

Table of Contents

1. Executive Summary

2. Australia Car Finance Market Overview

2.1 Taxonomy of the Australia Car Finance Market

2.2 Industry Value Chain

2.3 Ecosystem

2.4 Government Regulations/Initiatives for the Australia Car Finance Market

2.5 Growth Drivers of the Australia Car Finance Market

2.6 Issues and Challenges of the Australia Car Finance Market

2.7 Impact of COVID-19 on the Australia Car Finance Market

2.8 SWOT Analysis

3. Australia Car Finance Market Size, 2017 – 2022

4. Australia Car Finance Market Segmentation

4.1   By Loan Tenure, 2017 - 2022

4.2 By Institution, 2017 - 2022

4.3 By Regional Split (North/East/West/South/Central), 2017 - 2022

5. Competitive Landscape

5.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

5.2 Strategies Adopted by Leading Players

5.3 Company Profiles – (Top 5 - 7 Major Players)

5.3.1 Car Finance Australia

5.3.2 National Australia Bank Limited

5.3.3 The Australia and New Zealand Banking Group Limited

5.3.4 Toyota Finance Australia Limited

5.3.5 Auto Finance Australia

5.3.6 LifeX Finance

5.3.7 Car Clarity

6. Australia Car Finance Future Market Size, 2022 – 2027

7. Australia Car Finance Future Market Segmentation

7.1   By Loan Tenure, 2022 - 2027

7.2 By Institution, 2027 - 2027

7.3 By Regional Split (North/East/West/South/Central), 2022 - 2027

8. Analyst Recommendations

9. Research Methodology

10. Disclaimer

11. Contact Us

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Research Methodology

Research Methodology

Step 1: Identifying Key Variables:

Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.

Step 2: Market Building:

Collating statistics on car finance market over the years, to compute the revenues generated by the online market. We also understood the price points of various services offered.

Step 3: Validating and Finalizing:

Building market hypothesis and conducting CATIs with industry exerts belonging to different companies to validate statistics and seek operational and financial information from company representatives.

Step 4: Research output:

Our team will approach multiple finance providing channels and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from car finance providers.

Frequently Asked Questions

Frequently Asked Questions

01 What is the Study Period of this Market Report?

The Australia Car Finance Market is covered from 2018–2028F in this report, including a forecast for 2023P-2028F.

02 What is the Future Growth Rate of the Australia Car Finance Market?

The Market is expected to witness a CAGR of ~% over the next years.

03 What are the Key Factors Driving the Australian Car Finance Market?

A low interest rate, Low or no fees offering, and Repayment flexibility is driving the market.

04 Can Consumers refinance their car loan to a better rate in Australian Car Finance Market?

Yes, in many situations you will be able to refinance your car loan to another lender. However, you’ll have to weigh up whether it’s worthwhile. While you may be able to reduce your repayments by switching to a loan with a lower rate, you’ll need to factor in the costs of switching, including any exit or break fees with your existing lender or application fees with your new lender.

05 Who is the leading lender in the Australian Car Finance Market?

National Australia Bank Limited, The Australia and New Zealand Banking Group Limited, Toyota Finance Australia Limited etc. are the major lenders.

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