Buying a Car: Hints and Tips

Here are some resources to help you with your search.

When buying a car, you need good information, and a clear idea of what you need versus what you want. Did you know that you can pre-approve your car loan with Suncorp Bank, so you’ll have a better idea of what you can spend? Call us on 13 11 75 to find out more.


Apply Online



Starting Out

I need to buy a car, so what should I be looking for?

Safety Considerations   

It’s important to not only factor the cost of additional safety features into your budget, but also understand how your car ranks in terms of how safe it is to drive.


Checking there’s no money owing

Buying a used car from a private seller? Always check with the Personal Properties Securities Register (PPSR) to ensure that the seller hasn’t any debts owing on the vehicle.


Competitive car pricing

Whether you’re buying a new or used car, it’s important to check the price you’re paying is in line with the larger marketplace.


Functionality Considerations

After safety - and before spoilers, subwoofers, and rims - functionality should be a prime motivator in your choice of vehicle.



On average, you can expect to add another $1600-$2000 of upfront expenses to the listed price of a new car. This is a figure that can be factored into your loan.


Upfront costs

Things like compulsory third-party insurance, registration, dealer delivery charges, stamp duty.


Ongoing costs

Things like fuel, comprehensive insurance, registration, maintenance, and repairs.

To get an idea of how much your repayments will be once you’ve decided how much you need the loan for, try our repayment calculator.

To work out if that’s a cost you can afford, try using our budget calculator.


Did you know?

‘Drive away, no more to pay’ deals boast the inclusion of costs like stamp duty, and dealer delivery charges in the new car’s listing price?

New or Used?

Though it all depends upon what you can afford, typically, the factors to consider when buying a new or used car are as follows.



Has no upfront repair costs, and initial maintenance costs will also be lower.

Problems that do arise are covered by a manufacturer’s warranty that lasts for a number of years after your new car purchase.


My options

If your car will be 12 years old or less at the end of the loan term, and the car has a value of $10,000 or greater, then you’re eligible to apply for a Secured Car Loan with Suncorp Bank.

Securing your loan with your new car allows us to offer you a significantly reduced interest rate, lowering your weekly, fortnightly, or monthly repayment sum.



A new car loses value when it’s driven out of the lot, and buying a second-hand car allows for the original owner to absorb that depreciation, passing the savings onto you.

However, used cars are generally sold outside of their manufacturer’s warranty, and you’ll have to bear repair costs entirely yourself.

Most used car dealerships offer a short-term, statutory warranty on your vehicle purchase, so it’s an idea to check with them first if it’s not advertised.


My options

If your used car will be 12 years old or less at the end of the loan term, and the car has a value of $10,000 or greater, then you’re eligible to apply for a Secured Car Loan with Suncorp Bank.

By securing your loan with your new car, you can take advantage of a lower interest rate, lowering your repayments.

If your used car will be more than 12 years old at the end of the loan term, or the car is valued at less than $10,000, then the purchase can no longer be used to secure the loan, and instead you’ll become eligible to apply for an Unsecured Personal Loan with Suncorp Bank.



You can refinance an existing secured car loan, and retain the use of your car as security - so long as the car is 12 years old or less at the end of the loan term, and the car has a value of $10,000 or greater. Call us on 13 11 75 to discuss your options.