Australia’s 3 Best Selling Cars

Australia's 3 Best Selling Cars of 2024: How Flexible Financing Options Are Driving the Ford Ranger, Toyota HiLux, and Toyota RAV4 to the Top

In 2024, Australia’s automotive landscape continues to be dominated by three standout vehicles. As of July 2024, Australia's 3 best selling cars, are the Ford Ranger, Toyota HiLux, and Toyota RAV4. These vehicles are not only the top choices for their exceptional performance, versatility, and reliability. But also because they have become increasingly accessible through a range of flexible financing options. In this blog, we’ll explore why these vehicles are leading the pack in 2024 and how smart financing options are making them more attainable for a broad range of buyers.

Australia’s 3 Best Selling Cars of 2024

The Ford Ranger, Toyota HiLux, and Toyota RAV4 have become Australia’s best-selling vehicles in 2024. This is due to a combination of their versatility, reliability, and the growing preference for vehicles that can handle the country’s diverse driving conditions. According to The Driving Enthusiast, as of July 2024, there have been 28,446 sales of the Ford Ranger. Toyota continues to lead the industry as the most popular new vehicle brand. A total of 33,262 HiLux’s and 31,338 RAV4’s were sold in the first half of 2024.

1. Ford Ranger: Versatility and Performance

The Ford Ranger’s success stems from its ability to meet the needs of a wide range of customers, from tradespeople to adventure seekers. Its advanced off-road capabilities, such as the e-Locking Rear Differential and Hill Descent Control, make it an ideal choice for those who need a vehicle that can handle tough terrain. Additionally, the Ranger’s modern features, including SYNC3 integration and Smart Keyless Entry, appeal to tech-savvy buyers who value convenience and connectivity. This versatility is a significant factor in its popularity. The Ranger can easily transition from a workhorse during the week to a recreational vehicle on the weekends​. Additionally, Ford offers a wide range of models, including the XL, XLT, WildTrak, and the performance-oriented Raptor. This choice appeals to a broad spectrum of customers from tradies to adventure enthusiasts​.

2. Toyota HiLux: Reliability and Durability

The Toyota HiLux has long been synonymous with reliability in Australia. Known for its ability to endure harsh conditions, the HiLux has built a loyal customer base among those who require a durable and dependable vehicle for both work and personal use. Its strong resale value and extensive service network further enhance its appeal, making it a safe investment for buyers. The HiLux is particularly popular among businesses that need a fleet of vehicles capable of performing in demanding environments​.

3. Toyota RAV4: Practicality and Efficiency

The Toyota RAV4’s dominance in the SUV market is largely due to its practicality and fuel efficiency. As a compact SUV, it offers ample space for families while remaining easy to maneuver in urban settings. The availability of hybrid models has also made the RAV4 attractive to environmentally conscious consumers looking to reduce their carbon footprint without sacrificing performance. Its reputation for reliability and the comprehensive suite of safety features further bolsters its status as a top choice for Australian families.

Financing Australia's 3 Best Selling Cars

Market Preferences and Economic Factors

Australian buyers are increasingly prioritizing vehicles that offer a combination of durability, versatility, and value for money. This trend is particularly evident in the preference for utes and SUVs. These vehicles are seen as practical choices for both personal and business use.

With the rising costs of vehicles and a desire to preserve cash flow, many buyers are opting for finance solutions to assist in their car purchase. According to recent data, a significant portion of new car purchases in Australia are now financed. Flexible loan terms, competitive interest rates, and the availability of balloon payments are making it easier for both individuals and companies to acquire these top-selling vehicles.

1. Accessibility Through Affordable Payments

Financing these vehicles makes them more accessible through affordable monthly payments. Traditional car loans allow consumers to spread the cost of a vehicle up to a maximum of 7 years. With competitive interest rates and flexible loan terms, buyers can tailor their repayments to suit their budgets. This ensures that they can afford the vehicles they want without straining their finances​.

2. The Appeal of Low or No Deposit Loans

Many Australian buyers are taking advantage of low or no deposit car loans. This allows them to drive away in a new vehicle without the need for a large upfront payment. This financing option is particularly appealing to first-time car buyers and younger consumers who may not have substantial savings. It also benefits businesses that prefer to preserve cash flow for other operational needs. By minimizing the initial financial outlay, low deposit loans make it easier for a wider range of buyers to access these top-selling vehicles​.

3. Balloon Payments

Balloon payments also play a significant role in the popularity of these vehicles. A balloon payment option allows buyers to make lower monthly payments during the loan term, with a larger lump sum payment at the end. This structure is attractive to those who plan to upgrade their vehicle or refinance at the end of the term. Our easy to use car loan calculator has a balloon payment option. By adding a balloon payment to the calculator you can see how this affects your loan repayment amount.

4. Business Financing – Low Doc Car Loans

For businesses, financing options such as low doc car loans and no doc car loans have been instrumental in the widespread adoption of the Ford Ranger and Toyota HiLux. Business finance options offer many advantages, such as tax benefits and tailored financing solutions, making these vehicles even more appealing as company cars​. Find out more about the benefits of low doc business car finance here.

Advantages of using a Finance Broker

Navigating the myriad of financing options can be challenging. This is where using a finance broker can be highly beneficial. A finance broker can help you secure the most competitive finance deals available, tailored to your specific needs. They have access to a wide range of lenders and products, which means they can compare different options to find the best interest rates, loan terms, and payment structures for you. For businesses, a broker can also assist in structuring financing in a way that maximizes tax benefits and aligns with your cash flow requirements. AAA Finance has access to over 40 lenders and a team of highly experienced finance experts who are ready to discuss your finance requirements.

Why use AAA Finance

• Quick 24-hour loan approvals
• Easy over the phone application
• AAA customer service
• Competitive interest rates
• Tailored finance solutions to suit your circumstances
• Access to a team of highly qualified finance experts

While the Ford Ranger, Toyota HiLux, and Toyota RAV4 are leading the market due to their impressive capabilities, the strategic use of financing—especially with the guidance of a finance broker—can make these top-tier vehicles even more attainable and financially viable for a broader audience.