Thinking of buying a new car? Learn how to compare deals, negotiate price, understand hidden costs and choose the right vehicle with this expert guide.
By Laura Culbert
Buying a new car is exciting but it can also be overwhelming as you weigh up models and specs and try to decipher the actual cost. Here, experts reveal the pressing questions you need answered to simplify car buying and help you avoid expensive mistakes.
The key to not being taken for a ride is to do your research and get a few quotes. “A good deal is about more than just the sticker price,” says Rob Leigh, co-founder and director of automotive website TheBeep.com.au. It’s about weighing up the price tag with factory offers and bonuses that many dealers throw in, too. “Compare the drive-away price and inclusions against similar models. If a few dealers are landing in the same ballpark and the ongoing costs make sense, that’s usually a sign the deal you’re considering is competitive.”
Dealers often have more flexibility on price for in-stock vehicles than factory orders. Cars already on the lot can come with better discounts, especially towards the end of the month.
If you’re after the most competitive price, flexibility is important. “Being flexible on colour or specification can unlock better pricing, particularly on in-stock cars,” says Leigh.
Timing is also key. The end of the month or sale periods, like EOFY, can bring cheaper prices and added bonuses as dealers try to meet sales targets or clear excess stock. That being said, don’t feel pressured to act quickly and skip reading the fine print. Sometimes the “great deal” is actually due to old plates, meaning a new car that was built or first registered last year. These vehicles are often discounted to move them on but the earlier plate year can affect resale value down the track.
By law, car pricing must be clear and accurate, with the total price advertised prominently. This is what’s usually called the drive-away price and generally includes stamp duty, luxury car tax, dealer delivery fees, 12 months’ registration and compulsory third-party insurance. But there are other costs you need to prepare for. “Ongoing expenses, like insurance, servicing, tyres and fuel or charging, are easy to overlook and they can vary a lot between models,” says Leigh. “Finance products and add-ons are another area to watch.” Anything that increases the safety of a vehicle is worth considering but for things like floor mats, cheaper options may be available at auto stores.
Capped-price servicing programs lock in the cost of scheduled services for a set time, helping you budget with more certainty. But they don’t always include everything so it’s worth checking what’s covered and what might still come out of your pocket.
To make sure your new car fits into your budget, “you need to understand what the upfront and ongoing costs are,” says Andrew Vuong, senior product manager of car buying and lending at CommBank.
It’s also important to consider the impact of depreciation on the overall value of your purchase, says Vuong. “Depreciation is one of your biggest and most often overlooked car costs.” Using tools that leverage market data and insights – such as Axel on the Cars for CommBank platform – can help you estimate the future value of a car and give you an idea of what it might be worth in one or even five years time.
Of course, there’s more to consider when buying a new car than the price. “The right car should suit your lifestyle, not just your budget,” says Leigh. “It’s worth thinking about how you’ll use it day to day – whether that’s commuting, carrying kids, weekend trips or towing.”
If an electric car is on your mind, keep in mind that they tend to work best when your driving habits line up with the technology. “If most of your driving is local and you can charge at home or work, an EV can be a very practical and cost-effective choice,” says Leigh.
If you’re conscious of running costs, EVs can offer significant savings on fuel, adds Vuong. “Electricity is usually cheaper than petrol, particularly if you’re able to charge at home or during off-peak hours.”
Hopping from one location and accommodation to another can soon drain your expenses. A more budget-friendly choice? Rent a home in one spot and see the sights from there. It’s also a great way to slow down and immerse yourself in the local culture.
Campbell chose this option last August when she travelled to South Korea with her partner, their young baby and her mum. “Rather than having separate hotel rooms, which would have limited our downtime together, we booked a two-bedroom apartment with room for everyone to relax together or in their own space.” The apartment also had a kitchen and laundry, which are helpful when travelling with kids.
“I researched stays that were located outside the most popular tourist spots, hoping to find a more affordable and genuine local experience,” she says. The group ended up in a neighbourhood called Haebangchon, a vibrant, diverse district in the heart of Seoul. “It had a high street with bakeries, cafés and convenience stores so when we didn’t feel like doing much, everything we needed was nearby.”
When they did want to explore further afield, public buses and Ubers were budget-friendly. Another thing that was budget-friendly was booking a longer stay. “We received a discount for booking two weeks,” says Campbell, who loved having a calm space to retreat to.
Ready to sign on the dotted line? CommBank offers both secured and unsecured loans, with the main difference being that the secured loan uses the car as security so it has a lower interest rate.
“CommBank offers competitive rates and fees on our car loans in addition to special offers and promotions on EV and plug-in hybrid vehicles,” says Vuong. “It’s always wise to shop around and do your due diligence to find a competitive offer that’s right for you personal circumstances.”
The platform can help streamline the process of buying a car. Offering thousands of listings, you can find and finance your car on the one easy-to-use platform, plus stay up-to-date with the latest news and reviews.
Visit carsforcommbank.com.au to learn more.
Published: 15 May 2026
An earlier version of this article was published in Brighter magazine.
This article provides general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as personal financial product advice. The views expressed by contributors are their own and don’t necessarily reflect the views of CBA. As the information has been provided without considering your objectives, financial situation or needs, you should, before acting on this information, consider what is appropriate for your circumstances, and where appropriate, consider the relevant Target Market Determination, Product Disclosure Statement and Terms and Conditions available on our website. You should also consider whether seeking independent professional legal, tax and financial advice is necessary. Every effort has been taken to ensure the information was correct as at the time of printing but it may be subject to change. No part of the editorial contents may be reproduced or copied in any form without the prior permission and acknowledgement of CBA.
