Buy a Car

Whether you’re in the market for a new or used car or motorcycle, we’ve put together an easy-to-follow guide to get you on the road to freedom faster.

Buy a car


Do your research

Buying a vehicle is often one of the biggest purchase decisions you’ll ever make (after buying a house), so it’s important to take your time and do your research.
Choice, Australia’s leading consumer organisation, has some handy tips for buying new or used cars.
Once you figure out the type of vehicle you need, you can start researching the makes and models that fit your needs. Many find using a car broker takes the stress out of the car-buying experience. And if you’re looking for a second-hand car, there are lots of websites that will give you an idea of what is out there and prices to expect.
Another great website for car price valuations is, which is often used by motor dealers when setting prices and determining your trade-in value.
Finally, it’s a good idea to consider the safety ratings of your potential new vehicle. The Australasian New Car Assessment Program provides safety assessment information for all new car models.



Plan your budget

Whether you’re planning to buy a cheap second-hand model or a brand-new Land Cruiser, working out your finances is an important step in your car-buying journey.

You’ll need to consider:

  • The purchase price of your new or used car
  • Insurance cover
  • Vehicle registration
  • Regular servicing costs
  • Ongoing petrol costs
  • Replacement tyres

Some cars are more expensive than others when it comes to insurance and future servicing; for example, it can be difficult to source parts for some European or vintage cars. 

If you’re buying a motorcycle, don’t forget to include the cost of buying a helmet and other protective riding gear. 

If you’re considering taking out a car loan, consider how much you need to borrow and how you’ll manage your loan repayment. Most car loans allow you to make repayments on a weekly, fortnightly or monthly basis. 

Check out our car loan repayment calculator



Try before you buy

If you’re planning to buy a car privately we recommend you request a test drive and arrange for a mechanic to give the car a check-up before you buy.
If you decide to buy from a car yard or dealer, consider the best time to buy your car,
as often you can get a better deal at certain times of year.
With second-hand cars, ensure you:
  • Check the car’s history report for any issues
  • Review the car’s logbook to see that all services have been recorded 
  • Ensure the Vehicle Identification Number (VIN) and registration match the vehicle make and model
  • Check the Personal Property Securities Register (PPSR) to see if there’s any money owing on the car you want to buy
If there is something at the car yard you like, and you’ve negotiated a price you feel comfortable with, most dealers will accept a deposit to hold; just make sure you specify “pending loan approval”.



Compare and apply

Our simple car loan comparison table lets you compare car and vehicle loans quickly and easily. 
Click here to compare the range and find the car loan that’s right for you.
Once you’ve found the perfect loan, applying for a car or vehicle loan with Australian Military Bank is simple and straightforward. 
Whether you’re after pre-approval or formal approval, we’re here to help. You can apply online, at one of our branches, by phone or you can make an appointment with a mobile banker to visit you.

Apply online

Apply at your local branch



Buy and Insure

You’ve found the perfect vehicle to match your needs, the car history report is all good and you’ve been approved for a loan. Now you can get out there and buy your new wheels.
Remember, the minute you sign the contract to purchase you are responsible for the vehicle.
If the worst should happen and your new car is stolen and damaged before you organise insurance, you’ll end up with the loan repayments for a damaged car.
That’s why we recommend you organise your motor insurance before you start driving. In fact, many loans require the car to have comprehensive insurance as part of the loan agreement. 

Learn more about our motor insurance

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