If you need finance to buy a new car in Queensland, check the sale contract’s finance conditions before signing or paying a deposit. Do not assume a loan enquiry, repayment estimate or verbal assurance lets you cancel the purchase if finance does not proceed.
Put the finance condition in writing
The Queensland Government’s new-car buying guide recommends recording specific requirements in the contract, including when a purchase depends on obtaining sufficient finance. It also says not to sign an incomplete contract and to keep a copy.
Before signing, ask how the proposed finance condition works for your purchase. What amount must be approved? Is a particular lender specified? What deadline applies, and what must you do if the application is delayed or declined?
Have unclear wording explained before you commit. A useful checklist helps you ask questions; it does not replace advice about the actual contract.
Check the deposit and delivery terms
Ask the dealer to explain when the deposit is refundable and record the agreed terms. Keep the payment receipt with your sale paperwork rather than relying on a conversation.
Check that the vehicle details, agreed extras, trade-in amount and delivery date match what you discussed. If you need a particular delivery date, clarify what the contract says happens if it changes.
Queensland’s guidance states that new-car sales have no cooling-off period. This article concerns new cars in Queensland; do not assume the same rules apply to a demonstrator, used car or purchase in another state.
Review the finance separately
ASIC’s Moneysmart car-loan guide recommends comparing loan features, fees and interest rates before choosing finance. Check the repayment amount and frequency, loan term, total repayments and any final balloon payment against the actual offer.
Ask the lender or broker which application steps remain outstanding. Keep a simple note of the person handling finance, the next document needed and any dates you have been given. Our car-finance page is a starting point for discussing options.
Act early if the purchase becomes uncertain
If finance is delayed, contact the people handling the purchase and loan promptly. Ask for any agreed changes to be confirmed in writing.
Legal Aid Queensland recommends legal advice if you have signed a contract and cannot meet your obligations or want to cancel. Do not assume a declined application automatically resolves every contractual requirement.
Aussie Loans is a finance broker. Contact our team to discuss finance before committing to a vehicle. Lender approval, terms and eligibility apply. General information only, checked 28 October 2026; this is not legal advice about your contract.
