The best time to buy a car in Australia

It may seem like the most obvious time to get a car loan to buy a new car is when you need one! However, by holding out for a few weeks or months, you may get a better deal.

How about knowing the differences between leasing and buying a vehicle?

Before you apply for car finance, consider all the factors that impact the best times to buy a car in Australia.

1. The end of the month

Most car salespeople have monthly sales targets so the end of the month can be a good time to get a deal.

Dealers can also get bonuses from manufacturers for selling enough volume, so a motivated salesperson may considerably drop the price for you to help them get over the line. Sometimes it comes down to luck but waiting for the end of the month is a good trick if you like to negotiate.

2. The end of the year

December provides another good opportunity for a bargain. At this time, dealerships are often looking to offload the closing year’s stock to make room for the next round of vehicles.

Before you go shopping for a car, make sure you have spoken to a lending specialist who can help you identify the best car loan for you.

3. The new year

Conversely, January can also be a hot time for new car deals. While many of the new year’s models will be arriving, manufacturing and shipping realities mean they will have been built in the previous year. This means that their build plate will be marked with the year just finished, making them less desirable. Many dealerships hold plate clearance sales in January for this reason; giving you a good price on a brand new car.

4. End of financial year (EOFY)

Like all retailers, car dealerships are trying their best to meet their EOFY targets and so they can boost their sales figures for the year. This means they can be eager to sell, sell, sell. Not only may there be plenty of deals in June, EOFY is also a good time to negotiate. Some wheeling and dealing can not only get you a cheaper car but also score you some added extras at next to no cost. Don’t be afraid to ask what the salesperson can do to make your purchasing decision easier; they are used to this being part of their transaction.

In the market for a new car? No matter what time of year it is, make sure to talk to a MoneyQuest car loan specialist for a car finance option that meets your needs.

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