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Know all the costs of buying a car - Greater Bank

Know all the costs of buying a car

Maybe you’re in the market for your first car, or are just thinking of upgrading. Budgeting will be a whole lot easier if you know what upfront and ongoing costs to expect.

Know all the costs of buying a car - Greater Bank

Costs before you buy

These costs will apply more to you if you’ve got a used car in your sights.

Vehicle inspection

You may consider yourself a bit of a rev-head, or you may be mechanically challenged.

Either way, having a professional give the car you intend to buy a once over can be a good idea. If you’re a member of your state or territory’s motoring club, you may even be able to get this inspection done at a discounted price.

Car History & Finance

If you want to be extra vigilant, the Personal Property Securities Registry can conduct searches into whether the vehicle owner still owes money on the car, for a small fee.

Costs of buying

Purchase Price

Your biggest expense of the whole process. Be sure to work out what type of car you can afford, and not to get in over your head.

Remember, a new car will cost you more upfront (by and large), but will be cheaper to insure. A used car may set you back less but may require more in maintenance over time.

Calculate your Personal Loan Repayments

Stamp Duty

Whether you’re buying new or used, Stamp Duty is a large, one-off payment, which is a percentage of the purchase price of your car. This payment goes to your state or territory government, and will be different depending on where you live.

Some new cars may offer deals which include stamp duty as part of the purchase price.

To calculate the stamp duty in your state, click on the correct link:

New Car Loan

Interest Rate 4.98 % p.a.
Comparison rate 5.36 %^ p.a.
Secured - Fixed rates for 1-7 years
Don’t wait to get behind the wheel – our fixed rate new car loan offers great value rates, low fees and can be approved in as little as 24 hours*.

The right cover

Now that you’re ready to get behind the wheel, make sure you don’t leave yourself vulnerable to the unexpected.

CTP Insurance

Compulsory Third Party Insurance (green slip, as it’s known in NSW) is required for all vehicles in all states within Australia. It covers the driver against legal liability in the event of death or injury caused by an accident for which the insured driver is responsible. It’s not possible to register your car without it.

Car Insurance

CTP, while compulsory, won’t cover you for damage caused to you or anyone else’s car or property. To cover yourself against incidents such as fire, theft and accidents, additional Car Insurance can give you peace of mind on the road.

Get a quote

Ongoing costs

Once you’re out and about in your new ride, you’ll still need to consider some of the regular ongoing costs of keeping a car on the road, and factor these into your budget.

Roadside Assistance

Something you hope you’ll never need to use, but comes in handy at just the right time. This ensures you’ll never be left stranded.

Registration

A fairly large cost each year. Your registration must be renewed each year to allow you to drive your vehicle on your state or territory’s roads.

Running Costs

The nuts and bolts of keeping a car on the road. Whilst not large costs in themselves, they are regular and can add up. Think petrol, tolls, servicing, tyres, and any loan repayments if your vehicle is under finance.

Compare our Personal Loans

Compare 3 products
Secured Personal Loan
Our fixed rate personal loans let you stay in control with fixed repayments for the life of the loan. Great for purchasing used cars, renovating a buying that new caravan or boat for a holiday.
New Car Loan
Don’t wait to get behind the wheel – our fixed rate new car loan offers great value rates, low fees and can be approved in as little as 24 hours*.
Unsecured Personal Loan
Need access to funds but don’t have security to offer? We’ve got you. We can lend up to $50,000 for any worthwhile personal purpose.
Variable rate 5.99 % p.a.
Comparison rate 6.37 %^ p.a.
Secured - Fixed rates for 1-7 years
Interest Rate 4.98 % p.a.
Comparison rate 5.36 %^ p.a.
Secured - Fixed rates for 1-7 years
Interest rate 8.95 % p.a.
Comparison rate 9.34 %^ p.a.
Unsecured - Fixed rates for 1-5 years
Key Features
We lend up to 120% of the value of car, caravan, boat, motorbike, term investment.
Competitive fixed interest rate which lets you stay in control with repayments.
Get pre-approved so you can shop with confidence or start planning your project.
Key Features
We lend up to 120% of the value of your new car.
Competitive fixed interest rate which lets you stay in control with repayments.
No monthly or annual fees.
Get approved in advance so you can shop for cars with confidence.
Key Features
Available for any worthwhile personal purchase. This could be a car, boat, holiday, renovation project or consolidating your debt obligations.
When borrowing, you don’t have to offer collateral as security for the loan. This means you pay a slightly higher interest rate than our Secured Personal Loan.
Maximum loan term
7 years
Maximum Loan Amount
$100,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Maximum Loan Term
7 years
Maximum loan amount
$100,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Maximum loan term
7 years
Maximum loan amount
$50,000
Minimum loan amount
$5,000
Additional repayments
Access to redraw
Available if self employed
Establishment fee
$275
Annual fee
Apply now Secured Personal Loan Apply now New Car Loan Apply now Unsecured Personal Loan

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