You’ve probably heard the phrase ‘timing is everything’ dozens of times over. But did you know this also applies to car buying? When you buy a new car is just as important as the how and the where. To get the best deal, you need to time your purchase just right.
If you’re going car shopping, here are the best times to buy a new car in Australia:
End of the financial year (EOFY)
The end of the financial year happens every June 30. It’s a big deal for businesses, especially car dealerships, who want to drive up sales figures as the tax year comes to a close. Dealerships are also looking to clear out the previous year’s models to make way for new ones.
Around this time, you’ll find huge discounts, special offers, and complementary items. You could also get better deals on insurance, services, and warranties during this period. If a new car is already discounted, sales staff are more willing to negotiate on price in the EOFY season as well.
A drawback when shopping during the EOFY season is the competition from other car buyers. Plenty of savvy car buyers anticipate the EOFY car sales, so you may have trouble getting your ideal car make and model.
End of the calendar year
You may not be thinking about buying a new car in the lead-up to Christmas and the New Year—but neither is anyone else. People are busy thinking about their holiday shopping and not about making a huge car purchase.
Because there are usually fewer people in the market for cars at this time, dealerships are more willing to negotiate prices. As the year winds down, there’s less time for sales staff to make their annual quotas too so they’re more eager to sell.
Also, dealerships are motivated to move out as many cars as possible with last year’s build plate. The end of calendar year car prices can sometimes carry over into early January.
End of the month
Not everyone wants to wait six months to a year to buy a new car. Sometimes needs must, and you need a vehicle to drive sooner rather than later. The good news is you can still get bargains on your car purchase throughout the year. At the end of every month is one of the best times to buy a car.
Car dealerships will likely have end-of-the-month sales with discounted prices or additional freebies. Sales staff have monthly targets so they want to close as many deals as possible as the month ends. Negotiating towards the end of the day can also help as they’ll want to get the sale before the workday is over.
Before the release of a new model
If you’re not too bothered by owning an older model, buying a car during a model run-out may be a good idea. A ‘model run out sale’ refers to the time before the release of a newer model when car dealerships mark down prices on
If you’re not too bothered by owning an older model, buying a car during a model run-out may be a good idea. A ‘model run out’ refers to the time before the release of a newer model. During this time, car dealerships have a model run-out sale where they mark down prices of the soon-to-be-replaced model. They do this to get as much of the old stock as possible making room for the newer model.
You may also see reduced competition for a vehicle as many customers will choose to hold out for the new model's arrival. This period can last through the lead-up to a launch and in the month or two that follow.
Is it time to buy a car?
Ultimately, the best time to buy a car is when you can finance it. At Aussie Car Loans, we can help you get the best deal on your car finance without the hassle. Get in touch with us today or get a quick quote online!
FAQ
When is the best time to buy a car?
The best times to buy a car are during the end of the financial year (EOFY), the end of the calendar year, the end of the month, or before a new model comes out. These are when dealerships offer high discounts and a lot of free add-ons giving you the best deal.
How long do EOFY sales last?
It depends on the car dealership. Some EOFY sales can last for a few days close to the EOFY deadline while others can go as long as several weeks leading up to the final days of the EOFY period.
When should you not buy a car?
Avoid buying a car during the beginning of the financial year or early in the sales quarter. Dealerships offer fewer sales and incentives during this time compared to later in the year.
What month is best for buying a car?
The best month for car buying is usually in December. In the last month of the year, you’ll see a lot of end-of-year sales or Holiday sales from dealerships in an effort to boost their year-end quotas and make room for newer models come the New Year.
When do cars go on sale?
Car dealerships often have end-of-the-month sales. If you want to purchase a new vehicle, it’s best to wait until the latter half of the month to get the best deal.
What is the best way to buy a car in Australia?
A car loan is a great way to buy a car if you don’t have enough funds on hand. Getting car finance is also an excellent option for those who don’t want to spend a chunk of their savings on a car purchase.
When is the best time to buy a used car in Australia?
If you’re buying from a dealership, buying a used car during the end of the financial year (EOFY) is the best way to go. Dealerships typically offer incredible deals and discounts in EOFY to clear out old stock and meet annual quotas.
What day of the week are cars cheapest?
Mondays may be the best day of the week to buy a car. Because dealerships are less busy at the start of the week, you have a good chance of getting a better deal. You can also spend more time negotiating because the sales staff aren’t dealing with as many customers.
What is the most expensive month to buy a car?
The first quarter of the year, from January through April, usually sees fewer discounts and sales compared to the latter half. Although dealerships may hold sales during this time, it may not be as large of a discount compared to the end of the year.
