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Get The Best Savings On End Of Financial Year Car Sales

End Of Financial Year spells a new fleet of cars, meaning the old ones have to go somewhere. Now's a budgeter's dreamtime.

Posted on: June 29, 2017

End Of Financial Year spells a new fleet of cars, meaning the old ones have to go somewhere. Now's a budgeter's dreamtime.

With Australia’s current housing market being as it is, you probably don’t get to hear “there’s never been a better time to buy,” all that often lately. But it’s June, and we should all rejoice because the phrase rings true for car purchasing! Every year, End Of Financial Year sales come around and car buying is at its cheapest for many consumers. Car salespeople are on the hunt for higher monthly/yearly figures and buyers are looking for a great deal – and here we have the middle ground. If you play your cards right, you’ll be in for a great drive away price on last season’s model with a couple of extras thrown in for good measure. Now all you need to do is go on the hunt for vehicle finance, which is easier than you might think…

Buy last year's model

I know, I know, buying an old model seems like a cheaters way to a new car, but it’s still in brand new condition at the dealership, even if it’s been on the market for 12 or less months. Car dealers are looking to clear their older models to make way for the new financial year editions, so there really isn’t a better time to buy. You’ll be overwhelmed with the offers, and be sure to make the most of the cheaper price by adding extras for next to nothing! Bring your bargaining skills and you’ll be surprised how easy it is to get a top-notch deal on a car that hasn’t hit the road (unless you count test drives)!

Avoid added fees

If you are being offered a good deal on a car, but it isn’t on the lot you’ll probably be facing a hefty delivery cost that may outweigh the savings! Also, be sure to read through terms and conditions, because the fine print may differ greatly to what you think when seeing the advertisement. When you are after a good deal, also make sure you pick and choose your features because some can be a heck of a lot costlier than what they are worth. So, go in knowing that there will be extra fees charged if you don’t play your cards right, and avoid them like the plague.

Know what you want

In many cases, you can be spoilt for choice if you head into a dealership with an open mind on what you want to purchase. Car dealers can try to use all their power to persuade you towards something you don’t want or need in the first place. Don’t let a good deal overshadow your day-to-day needs and drive away with a cheap 4x4 ute when you only need a vehicle for city driving. Have a game plan when you go in, but still be open to alternatives. Just be wary of what your needs are from the get-go and you should be A-Okay.

Don't shy away from used cars

Even used cars will be offering EOFY sales! Dealers are often looking to up their sales towards the end of the month and clear out the car yard before they get an influx of new, used cars after the financial year (you know, the old cars people traded in so they could buy a new car in the sale – they have to go somewhere right?!). On top of buying a used car, you may be able to upgrade it for a cheaper price by adding a reversing camera or floor mats. Plus, by buying a near new, used car you won’t feel so down about the depreciation that you get with a brand-new car as soon as you drive out of the lot.

Vehicle finance

Now, you don’t tend to get a cheaper deal on car finance, but you should take advantage of the cheaper selling price to cut down on a required loan amount. You’ll then be able to budget a bit better and make repayments easier with a smaller principal borrowed.

June 30 is fast approaching and so is EOFY D-Day, so get your running shoes on and find a great deal. Getting pre-approved for a car loan ahead of time will also make sure you stick to your budget, but also give you some leverage when bargaining down a price or adding extras. Hopefully you’ll score a great bargain this EOFY – we wish you a mountain of luck!

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