Could I say prăjitorul nou de pâine?
Yes. And also "Noul prăjitor de pâine".
I haven't seen this form of new before. Is the "l" at the end of "noul" the article and when is this used?
Yep. You can choose between any of the above forms, they're basically interchangeable.
And also " prajitorul de paine nou"