The Best Time to Buy Your Car
Money saving tips
Timing is Everything!
Timing can make a significant difference when purchasing a car. Whether you're looking for a brand-new model, a demo vehicle, or a reliable used car, knowing when to buy can help you secure the best deal. Here are some things to consider when you purchase a car in Australia and tips to maximize your savings5.
New Cars: When to Get the Best Deals
1. End of Financial Year (EOFY) – June
The EOFY period is seen as one of the best times to purchase a new car. Dealerships are eager to meet their annual sales targets, and manufacturers often offer significant discounts and bonuses. This is a prime opportunity to score deals on the latest models.
2. End of Calendar Year – December
December is another excellent time to buy as dealerships clear out current-year stock to make room for the next year's inventory. This can result in discounts and additional incentives, such as free servicing or upgraded features.
3. Plate Clearance Sales – January to March
Cars manufactured the previous year but still unsold often undergo heavy discounting during plate clearance sales. These vehicles are brand new but may carry last year's build plate, making them a bargain for buyers who don't mind the technical difference.
4. End of Each Quarter (March, June, September, December)
Dealerships aim to meet quarterly targets, leading to flexible pricing and special promotions. If you want to negotiate a great deal, try visiting in the final days of these months.
5. Model Changeover Periods
When a new model is about to launch, outgoing models are often discounted. This allows dealerships to clear inventory, making it a great time to buy a car without paying full price for the latest release.
Used Cars: How Timing Affects Prices
1. End of Month/Quarter
Used car dealerships may also operate on sales quotas, meaning the end of a month or quarter is a good time to negotiate a better price.
2. Winter (May to August)
Fewer people purchase cars during the colder months, resulting in less competition and more negotiating power. This can lead to better deals on used vehicles.
3. Post-Holidays (January to February)
Many people upgrade their cars after the holidays, leading to an influx of trade-ins. This increased supply can drive down prices on used vehicles.
4. Private Sales – Late in the Month
Private sellers may become more flexible with pricing as the month progresses, especially if they need to sell quickly.
Demo Cars: A Hidden Gem for Savings
Demo cars (vehicles used for test drives or display purposes) offer a unique opportunity to purchase nearly new cars at a discount. Here are some of the best times to consider buying demo cars:
1. EOFY and End of Calendar Year
Dealerships often include demo cars in their EOFY and December clearance sales. These cars may have low mileage and additional features but are priced significantly lower than brand-new models.
2. Model Changeover Periods
Demo cars from outgoing models are frequently discounted to make space for new inventory. This can be an excellent opportunity to buy a high-spec car at a reduced price.
3. Quarter-End (March, June, September, December)
Since demo cars can count toward sales targets, dealerships may be more inclined to negotiate their prices at the end of each quarter.
The Best Days to Buy a Car
- Monday to Wednesday (Early Weekdays): Dealerships are less busy, giving you more attention and better negotiating opportunities.
- Friday: Dealers push to meet weekly goals, making them more flexible.
- Sunday (Late Afternoon): If open, dealerships often aim to close deals before the week ends.
Avoid Saturdays when dealerships are typically busiest, limiting your ability to negotiate.
Key Takeaways for Buyers
- Do Your Research: Know the market value of the car you're interested in to ensure you're getting a fair deal.
- Be Flexible: Consider demo or outgoing models to maximize savings.
- Negotiate: Don’t hesitate to ask for extras, such as free servicing or extended warranties, if the price isn’t flexible.
- Act at the Right Time: Align your car purchase with the periods mentioned above to boost your chances of securing the best price.
Get Pre-Approved for Finance with Money3
Timing is essential when buying a car but so is being ready to act when the right deal appears. Getting pre-approved for finance with Money3 could streamline the buying process. Giving you a clear budget and greater negotiating power. Our experts specialize in helping clients secure car loans, even if you have a less-than-perfect credit history.
Start your car-buying journey with confidence. Get started with Money 3 today and let us help you drive away with a good deal.
5. This information is general in nature and is for information purposes only. It is not financial advice.
Money Saving Car Buying Tips - FAQs
The best times are during the End of Financial Year (EOFY) in June, the end of the calendar year in December, and during plate clearance sales from January to March.
EOFY sales are held in June, offering large discounts as dealerships aim to meet annual targets and clear stock.
Yes, demo cars are often discounted, have low mileage, and come with extra features, making them a cost-effective alternative to new models.
Savings can vary, but discounts during EOFY sales can range from hundreds to thousands of dollars, depending on the model and dealership incentives.
These sales clear out cars with the previous year’s build plate, offering discounts to make room for new stock.
Weekdays, especially Monday to Wednesday, are better as dealerships are less crowded, allowing for better service and negotiations.
Pre-approval helps you understand your budget, improves negotiating power, and speeds up the purchase process.
Yes, fewer buyers in winter often result in better deals as dealerships look to maintain sales.
Dealerships discount outgoing models to make room for new releases, offering significant savings.
Research prices, shop at the right times, and ask for extras if the price cannot be lowered.
Increased competition and limited stock can affect pricing, but discounts are still available.
Dealerships strive to meet quarterly sales targets, making them more likely to negotiate.
Check mileage, service history, and warranty details, and compare prices with similar new models.
Car Loans We Offer
Car Finance
Car finance with Money3 goes up to $75,000 for both new and used cars from private sales or from dealerships. Money3 will give you a fair go.
Used Car Loans
We offer loans for used and second-hand cars. Private sales or when buying from a dealership are welcome. We could help you purchase your next car.
Car Loans with Bad Credit
At Money3, we’ll give you a fair go, even with a bad credit history. Car finance up to $75,000 over 2 to 7 years.
Loans for Car Repairs
Personal loans are available, up to $30,000 for car repairs, maintenance, upgrades or for other vehicle types - we'll give you a fair go!
Centrelink Friendly* Car Loans
Apply for a car loan with Money3, even if you receive Centrelink payments*. We believe in giving everyone a fair go, including those who are on Centrelink benefits. Other vehicles considered.
Vehicle Finance
You could obtain finance for all road vehicle types plus boat or watersport vehicles with Money3. From caravans and trailers to boats and motorbikes. We'll give you a fair go!
* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
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* Money3 is not affiliated with, or endorsed by, Services Australia, but does provide personal loan and vehicle finance options which are available to recipients of benefit payments
