Car Buying Tips with Money Matchmaker®

Guide to Upgrading Your Car

Written by

Shaun McGowan

What’s the best way to upgrade your car?

Upgrading your car can be an exciting decision, a necessary one, or a regretful one.

Whether you’re doing it for work, family, or just to get yourself a nicer set of wheels, here are the best ways to upgrade your car so you can get your money's worth out of the decision.

What kind of car will get you the best loan with Money Matchmaker

Upgrading your car for work

  • Upgrading for work

This is one of the few times you have some amazing potential options.

If you’re looking to upgrade your car for work, you might want to first check out whether your employer offers a novated lease.

This type of finance uses your pre-tax salary to finance a car (so you pay less tax at the end of the year) and actually has some amazing benefits if you can qualify.

Learn more about the benefits of upgrading your vehicle with a novated lease.

  • Starting your own business

If you’re starting your own business, or if you’re self-employed and need a vehicle to take your existing business to the next level, consider business car finance when upgrading.

For example using a chattel mortgage to not only finance a business and personal vehicle, but get some nice GST benefits as well.

You can learn more about a chattel mortgage here.

Australia's Money Matchmaker matching you with your best loans across multiple lenders
For business owners, check with your accountant on the best way to finance your car. Check for the Instant Asset Write Off which is available in your very next BAS.

Upgrading your car when starting a family

Even in the earlier stages of a long-term relationship, you might consider trading in one of your vehicles to reduce your costs and start sharing a single car.

Even better, you might want to trade both in, and consider choosing a new car that suits both of you.

This goes two-fold for when it’s time to welcome another member of your family into the world, so if you’re thinking about upgrading your car when starting a family, pay close attention to features like:

  • Safety ratings and crash-test performance
  • Airbags, blind-spot monitoring, auto braking, and other safety technology
  • Fuel efficiency
  • Maintenance costs

Check out our guide to the Top 10 Best Family Cars.

Ready to find your best car loan?

The easiest way to find a competitive car loan when you’re looking to upgrade is to simply use our Money Matchmaker™ engine.

We’ll compare the best car loans we can find from our available pool of lenders, personalised entirely based on a few simple questions, and you can see exactly how much you’ll pay with each lender - this includes all the little details like fees and restrictions, so you can find the offer that suits your lifestyle the best.

If you’re looking to upgrade your vehicle and you’re ready to compare car loans, get started here today.

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About want to make managing money easy and fun! By giving Australians simple tools so they can make the best decisions they can about their money.

We understand that the world of finance is complex, and offer free, extensive guides on Personal Loans, Car Loans and Business Loans, along with tools like our Budget Planning Spreadsheet to help you better manage and understand personal finance.

About the Author

Shaun McGowan from



Shaun McGowan

Shaun is the founder of and is determined to help people pay as little as possible for financial products. Through education and building world class technology. Previously Shaun co-founded and Lend.