With Black Friday and Cyber Monday now in the rear mirror, you may be wondering whether there are any good deals left to be had. Well, if you’re thinking about buying a new car, the answer is most definitely yes!
When buying a new car, it pays to know when to buy if you want to get a great deal. Luckily for you, we know exactly when those times are. So, without further ado, here are the five best times to buy a car in Australia – and spoiler, one of them is right now.
The End of the Calendar Year
Come December, most dealers want to clear out models built that year. Why? Well, when the new year rolls around, cars built the previous year become that much harder to sell. They know that car buyers in January will want cars built that year, not last year. As a result, dealers are extra motivated to move old stock in December to make way for new stock in January.
Dealers may also be trying to hit annual quotas in December, making it even more likely that you will be able to negotiate a discounted price, while also getting your hands on extra perks, such as a cashback offer, deferred payment and various add-ons.
The New Year
If you’re willing to wait out the end-of-year sales, you may find an even better bargain in January. While dealers will typically try to move that year’s models by December, those cars that don’t sell by the end of year may be discounted even further in January during the early-year plate clearance sale.
It’s worth bearing in mind that the choice of cars may not be as broad in January, especially if the dealer had a very good sales month in December. Another point worth noting is that buying a car with the previous year’s build plate may result in a lower resale value. However, if you plan to keep the car for more than four years, that should not be as much of an issue.
The End of the Financial Year
Skipping ahead to June, and you will find that the end of the financial year is another great time to buy a car in Australia. Both manufacturers and dealerships slash prices in their EOFY sales, so this can be the perfect time to get a discount on the car itself, while also picking up other perks such as discounted financing, free service deals, extended warranties and other added extras.
What do you need to know about this sales period? Dealerships know many Aussies choose to upgrade their car in EOFY sales, so while there will be deals to be had, they may not be as good as other deals through the year. Do your homework, especially if you’re choosing models being shipped from other countries with different financial year calendars to ours.
The End of the Month
What happens if you want to buy a new car outwith those periods? You may still be able to get a good deal if you wait until the end of the month to buy. Dealers will often have sales targets to hit at the end of each month, which could make them more motivated to give you a discount. Unlike other sales periods, finding a good deal in this way will require a bit more shopping around.
Every few years, manufacturers tend to give their cars a facelift. With each new model comes a new look, new tech or new extras, encouraging customers to buy new to update their older model. Of course, to make way for these new models, dealers need to shift older models off their lots. And that means – you guessed it – model run-out sales.
Knowing how long a certain model has been on sale – or even better, knowing when an updated version is due out – can put you in a great position to negotiate at the dealership. With that being said, it is worth thinking about whether the updated model is significantly better than the older model, because if so, you may be better waiting for the update and paying a bit more.
Financing a New Car
Right, so you know you want to buy a new car. How are you going to pay for it? If you can’t afford to buy a new car upfront, a car loan could be the way to go. At Car Loan World, we can help match you with the best car loan for your needs, with preapproval available so you can get stuck in at those sales. Contact us today to find out how we can help.