Media Release, November 2019

Research reveals cheapest states to buy cars



For the first time in Australia, the prices people pay for new cars has been revealed on a state and territory basis proving that where someone lives significantly impacts what they will end up paying for a new car. NSW is officially the cheapest place to buy a new car in Australia, closely followed by VIC, according to PriceMyCar’s latest research.



NSW consumers will pay on average 0.43% less for a car than the national average. However, NT is the most expensive state to buy a car with consumers paying 1.54% more than the national average. For specific brands, it can be even more. A KIA in NT will cost a huge 6.32% more than the national average. However, in NSW if a consumer were to buy a Mazda, Mitsubishi or Volvo it would cost them 4.95% less than average. A Toyota buyer in WA could expect to pay over 4.5% more than a NSW buyer. Nissan buyers in SA tend to pay nearly 5% more than their counterparts just over the border in VIC – that’s $1,500 more on a typical $30,000 car.



Often, buying a car can be overwhelming, regardless of age, experience or knowledge. Options are endless, small differences in specifications make it confusing, and brand preference doesn’t always end up being the decider. Distinguishing and deciphering which car’s price holds the most value or falls within the budget can be the most stressful aspect of purchasing a new car. Over 1 million cars are sold in Australia per year, but recent peaks and valleys in the economic sphere of Australian lifestyle has made the need for an all-in-one service such as PriceMyCar to make the buying process easier, more transparent and for the everyday consumer to get the best possible deal on their car.



When it comes to dealerships and comparative analysis of the car market, consumers now have the option of comparing their car of choice within multiple dealerships around their geographical location with Price My Car. It produces an incredible amount of transparency on behalf of the automobile market for the consumer to obtain the deal that best suits their needs, preferences and budget.



“It inspires competition among dealerships to contest for business and awareness, and with over 300,000 new car prices, quotes, invoices and deals, consumers have a wealth of choice,” says PriceMyCar founder and CEO, David Lye.



The Australian government is looking at implementing new and improved policy reforms related to the automotive sector. The Morrison government is expected to make the system more transparent and fairer for consumers, dealers and manufacturers[1].



PriceMyCar’s business model aligns with these new policy reforms with its focus on transparency. “Using a crowdsourced, consumer-helping-consumer database, we are creating a more level playing field for all involved in the car sales industry. This model has been seen to work successfully in other industries as well such as Waze, gasbuddy and Amazon’s Alexa. PriceMyCar is the evolution from hopping on an online forum to discuss car pricing. It allows consumer involvement in the pricing structure and builds more trust within the industry,” says David.



For the full results and analysis on a state-by-state basis, visit pricemycar.com.au



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