Getting the Best Deals Out of the EOFY Sales
June is a great time of the year to get big discounts on a new car purchase. Particularly if you’re not too picky on colours and accessories, but we’ll get more into that later.
You want to make sure you are getting the right deal on a car, because otherwise it can cost you thousands.
Regardless of the Sales You Will Probably Still Get Better Prices from a Specialist
It may be a little bit of a plug, but it’s true – you will likely get a better price through dealer quote negotiation with a novated lease specialist – it’s what we do, it’s our job to get good prices and savings. For EOFYS we have our own offer to make sure that friends and family of ProNovate are getting a good deal, we are offering free dealer quote negotiation for the month of June – no obligations, even for purchases without a novated lease. Only for the month of June, then it’s back to $330 per vehicle. On average we save more than $4000 per vehicle, often as high as $17,000.
Be Flexible on Colours and Accessories
Many dealers are not only trying to boost sales before the EOFY, this is the time that dealers are trying to get old showroom stock off the floor to make space for newer models to arrive. If you’re flexible, on the colour or optional extras, you may be able to take one of those showroom models for a big discount on top of the sale price.
Do your homework. Once you start looking at a vehicle, check across multiple dealers to see if there are better prices out there. Also, it’s a good time to check out the ANCAP safety rating on the car. It’s so easy to research what deals are out there, including finance options, you can even do it from your phone outside of the dealership. For more information read our ANCAP App article here, or check out the ANCAP site here.
Know the tricks. This may sound familiar from a previous article, as we have already covered it in detail. If you want to go in depth to dealer tricks, you can read more here. But a brief overview is to research, make sure that a deal is really a deal, and don’t get pressured into a sale on the spot if you don’t feel comfortable. Also, pay attention to the next point as well…
Be Careful About Financing
This could go under #2, but don’t just research the on-road price, research financing rates if you will be using it. Sometimes a great price can be hiding some not so great financing rates. Be ready to read the fine print to look for any hidden fees or rate increases that can unexpectedly increase the cost of your car.
Ok it’s a bit of a plug, but we honestly think that a novated lease is a better way to own a car, it’s a tax saving scheme for Australian full-time employees to make car ownership more affordable. At the very minimum, just running a car, insurance, rego, fuel for a short commute, costs around $500 a month, and that doesn’t even include the purchase price of the car/repayments. Putting that into pre-tax income, saves on income tax and makes it overall a cheaper way to own a car.
Blanket Sales Affect Your Resale Value
Also be aware, that if everyone gets the discount it can affect your resale value. So push for savings that the market otherwise wouldn’t get. Otherwise you may be getting a discount on the purchase price, but you’re also losing value in the asset.