Total cost for a $40,000 car




Total cost for a $40,000 car
Type of loan Total cost 

Home loan redraw – repaid over five years at 5.8%

$46,200
Secured five-year personal loan at 9.3% $50,200
Unsecured five-year personal loan at 13.8% $55,600
Home loan redraw – repaid over 25 years at 5.8% $76,000

Source: mozo.com.au

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