New Car Deposit and Contract Checklist for Australia

A new car deposit is usually paid when you sign the dealer's order form, and that form is a legally binding contract. Before you hand over money, get five things in writing: the exact car, an itemised drive-away price, a delivery date, a date you can walk away with a full refund, and any finance or trade-in conditions.

Cooling-off rights depend on your state and how you pay, and some new car sales have none. This guide details the rules in Victoria, New South Wales and Queensland as of October 2026. Buyers in other states and territories can use the same checklist, but should confirm their local cooling-off rules before signing.

Treat the order form as the contract it is

Consumer Affairs Victoria describes the agreement for sale as a legally binding document and says never to sign one that is blank or has unfilled spaces. Insist that every cost is itemised, and keep a copy of what you sign.

The ACCC explains that a contract can be accepted by signing, by saying you accept or through actions such as paying, so a paid reservation may already be a contract. Read its terms before you pay. It also says a business must not pressure you into a contract.

Still comparing offers? Check the quote before the contract.

Get the new car deposit terms in writing

NSW Fair Trading says dealers commonly take a holding deposit when you sign, and recommends getting a receipt and the deposit's terms in writing, such as whether it is refundable if you change your mind.

It also says that if you change your mind and break the contract, the seller may be entitled to keep the deposit and ask you to pay a cancellation fee.

The Queensland Government suggests paying only the minimum deposit the dealer will accept, checking that it is refundable and getting a receipt for every payment.

Ask for these on the contract: the deposit amount; what it secures, such as a stock car, a build slot or a place in a queue; each situation in which it is refunded in full; and how quickly a refund is paid.

Check whether you have any cooling-off period

The ACCC notes that cooling-off periods vary between states and territories and are not available in all of them.

Victoria: Consumer Affairs Victoria says you have three business days after signing, not counting weekends or public holidays, to change your mind, but you lose that right if you accept delivery in that time.

You must cancel in writing. The trader may keep $400 or 2 per cent of the price, whichever is greater. For a sale made away from the trader's premises, it is $100 or 1 per cent, whichever is greater.

There is no cooling-off if the car is bought in a company's name or is classed as a commercial vehicle. The trader does not have to order the car until the period ends, so ask when you can expect it.

New South Wales: NSW Fair Trading says cooling-off applies only to linked credit, where the dealer arranges your loan, supplies the application forms or refers you to a lender. It does not apply if you pay cash, arrange finance yourself or buy the car mainly for business use.

NSW's finance and contracts guidance says the deadline is 5pm on the next day the dealer is open to the public, which can be a Saturday. If the dealer closes before 5pm that day, it moves to closing time on the next day the dealer opens after that.

If you buy through the dealer's website, the Motor Dealers and Repairers Act sets 5pm the next day instead. Cancelling needs signed written notice and costs $250 or 2 per cent of the price, whichever is less. The right can only be waived by signing the prescribed form, Form 12, so read every page.

Queensland: the Queensland Government says there is no cooling-off period on the sale of a new car.

Elsewhere: the ACCC lists every state and territory consumer protection agency. Check your local agency's rules, and do not assume a cooling-off right exists.

Lock in the drive-away price and what can change it

Queensland's guidance says the dealer must specify all mandatory costs, including the vehicle price, transfer duty, dealer delivery charges, levies and fees payable before you receive the car. List add-ons such as window tinting and rust proofing separately, with prices.

For a breakdown of that total, see what the drive-away figure should include.

Next, read any price-change clause. NSW Fair Trading says some contracts allow variations for factory increases or currency movements. If a factory increase lifts the price, it says the signed order form does not make you pay it, but the dealer need not sell at the original price, so you can pay more or cancel the order.

The ACCC's examples of potentially unfair terms in standard form contracts include terms that let only one party change the contract. In its broadband example, a price-rise term was likely unfair when customers could not exit, but likely not unfair when they could leave without penalty. Only a court can decide whether a term is unfair.

The practical fix: ask in writing for a fixed drive-away price until delivery, or the right to cancel with a full refund if the price rises.

Describe the exact car, down to the build date

Consumer Affairs Victoria says the contract should specify the colour, other particulars and optional extras, plus the year of manufacture if that matters to you. Add the variant, interior trim and each dealer-fitted accessory with its price.

The Queensland Government notes that the build date reflects a car's true age and is used to value it at resale. Get it in writing, and check at pickup that it matches what the dealer told you. On a long wait, ask what happens if a model-year or specification change arrives first.

The ACCC says a car bought from a licensed dealer must match the description provided or the demonstration model. Queensland's major-failure example is a buyer who test-drives a diesel demonstrator, orders a diesel and receives a petrol car. For a major failure, it says you can reject the car and choose a refund or replacement.

Put a delivery date and a walk-away date in writing

Both Consumer Affairs Victoria and NSW Fair Trading say the contract should state a delivery date. If the dealer cannot give one, it should include a date after which you no longer want to proceed. Queensland suggests a clause saying the car must be delivered by a set date, otherwise the contract is cancelled and the deposit refunded.

This matters most on a waitlisted car. NSW Fair Trading notes that some contracts let the dealer extend the time to supply the vehicle, and that contracts can generally only be cancelled for a breach of their terms. Without a written deadline, you may have no clear right to cancel when delivery slips.

If you are paying to reserve a car before its final price or delivery timing is announced, ask in writing what happens to your money if the confirmed price or timing does not suit you.

Make finance and your trade-in conditions of the sale

If you need a loan, make the purchase subject to it. NSW Fair Trading says that if the contract makes the purchase depend on you getting finance and you cannot get a loan after reasonable attempts, you may be able to cancel and have the deposit returned.

Pre-approval helps, but it is not a guarantee. This guide to car loan pre-approval explains that a lender can still assess the specific car, its valuation and any change in your circumstances before settlement. Loanseekers can help you compare car loan options before you sign; approval and terms depend on each lender's assessment.

NSW Fair Trading says the dealer should disclose prejudicial terms before you sign, such as balloon payments, exit fees, finder's fees and terms that exclude the dealer's liability. Do not sign a finance application unless you are sure you will buy the car.

For a trade-in, Queensland says the contract should show the trade-in amount. Record any conditions on it, such as kilometres or condition at handover, and who pays out any finance owing.

Victoria's Motor Car Traders Act and NSW's rules both stop a dealer selling your trade-in during the cooling-off period, and require it to be returned if you cool off.

If the car is late or the deal changes

Check the change against the written contract, then raise it with the dealer in writing so you keep a record, as the Queensland Government suggests.

If the dealer said something false or misleading about the car or the terms, the ACCC says you can generally end the contract with no charge. Dealers must not mislead, including by leaving information out.

If that does not resolve it, contact your state or territory consumer protection agency, such as Consumer Affairs Victoria, NSW Fair Trading or Queensland's Office of Fair Trading. Queensland buyers may also be able to lodge a claim with QCAT.

Your checklist before you sign

Contract: no blank spaces; every cost itemised; a copy kept.

Deposit: amount, refund conditions and refund timing written in; receipt received.

Cooling-off: your state's rule and exact deadline checked; nothing signed that waives it unless you mean to.

Price: drive-away total confirmed; price-variation clause read; cancel-with-full-refund option agreed.

The car: variant, colour, trim, options, accessories and model year or build date recorded.

Timing: delivery date and walk-away date written in.

Conditions: subject-to-finance clause added if needed; trade-in amount and conditions recorded.

If a dealer will not put a key promise in writing, treat it as not promised. Carseekers lets you send one request for your exact variant to authorised dealers and compare full drive-away quotes before you choose who to sign with.