Car sales during EOFY, what’s the fuss all about?

When buying a car sometimes if the price is too good to be true, it generally is. This wise mentality can act as a deterrent in vehicle purchasing behaviour. However, the “EOFY Sales” month of June saw tens of thousands of Australian’s cashing in on some serious and legitimate bargains. In fact, June 2018 will go down as Australia’s biggest month ever in terms of Ute and SUV sales. Unbelievable!

A combination of aggressive selling and discounting can be attributed to the result however the need for families to be in bigger vehicles is also a huge driver. The top three vehicle sales in June were all utes. Surprise surprise; The Hilux, Ranger and Triton got the gold, silver and bronze. Each vehicle can appeal to any and all families as they offer safety, comfort and a very large shopping trolley (tray) in the back!


The fuss
Are we really getting a bargain? The short answer is yes, of course. Manufacturers are always keen to move old stock, especially in June! At times they become desperate and we start to see optional extras worth thousands getting thrown in. This is great for the consumer and it’s safe to say there are no smoke and mirrors.. Always remember to look closely at the quote though. All you have to do is google a few car selling horror stories to know that sometimes you don’t get the exact car you asked for. So make sure if you want a sunroof and an automatic start button with tinted windows, demand the dealer points out exactly where those items are in the quote before you sign off on it.

What if I miss the EOFYS train?
For the panic-ridden buyer reading this, don’t fret. There are deals going all year round. Whether it’s Christmas and New Year, or Easter, or Father’s Day or Mother’s Day! There are always new and high value incentives being offered as the market has become so competitive these days, particularly with utes and SUV’s. The poor old cash cows such as the Toyota Corolla, Hyundai i30 and Mazda 3 were all knocked off their perch in the month of June by utes!


Experts on savings

The ‘experts’ out there, whoever these people are believe that you can be pretty happy with a deal if anywhere above 10-15% is knocked off the asking price. If you are unable to achieve this percentage, and sometimes it’s just not possible, ask for a few optional extras to be thrown in. It never hurts to ask!
Will car prices rise in Australia?

Tax and GST savings
One way to buy a car at any time of the year is through a novated lease. In a novated lease you own the car like any other normal person would own their car. The difference is you will not pay GST! So there’s your 10% saving right there. Whether you’re a family looking for an upgrade, a couple looking for something new or an individual looking to maximise your savings and have a fully maintained vehicle, a novated lease is for you! To find out more, follow this link!

(Car Sales Data Source: Federal Chamber of Automotive Industries)